Steven A. Cohen's SAC Capital Advisors told investors it had received a Wells notice from the U.S. Securities and Exchange Commission, suggesting the regulator may bring charges against the hedge fund firm related to insider trading cases, a source familiar with the matter said.

The $14 billion hedge fund firm held a phone call on Wednesday morning with investors to inform them of the notice.

(Reporting By Svea Herbst-Bayliss and Katya Wachtel; Editing by Lisa Von Ahn)