SEC probes Jefferies over First Brands disclosures

Reuters
2 hours ago
SEC probes Jefferies over First Brands disclosures

Jefferies Financial Group is facing regulatory scrutiny after reports said the U.S. Securities and Exchange Commission is investigating its relationship with collapsed car parts company First Brands, including whether it adequately disclosed the Point Bonita fund’s exposure to First Brands. The issue surfaced after a Financial Times report detailed Jefferies’ $715 million fund exposure tied to First Brands invoice financing, and later reporting said Jefferies took a $30 million loss related to the collapse.

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