* SEC expects to proceed on Bear hedge fund managers case

* Bear managers were acquitted Tuesday

* SEC eyes improving Wells notice process (Adds attempts to reach Cioffi, Tannin lawyers)

WASHINGTON, Nov 12 (Reuters) - U.S. securities regulators intend to proceed with their civil case against two former Bear Stearns fund managers who were acquitted of related criminal charges earlier this week.

"We filed a case based on the evidence from our investigation," Robert Khuzami, the enforcement chief at the U.S. Securities and Exchange Commission, told Reuters TV on Thursday. "We fully expect to proceed with our case."

On Tuesday, a New York jury found the former Bear managers Ralph Cioffi and Matthew Tannin not guilty of securities fraud, wire fraud and conspiracy.

They had managed two hedge funds that were full of subprime mortgage-backed securities and which the government said led to $1.6 billion in losses for investors when they collapsed in mid-2007, in the early stages of the financial crisis.

It was the first major criminal trial to arise from the financial meltdown, and was seen as a test case for prosecuting people for their roles in the crisis.

"We will study the transcript and events at trial, but I fully expect us to continue our case. We have a different standard of proof," Khuzami said.