Allianz Allowed Back Into US Fund Business as SEC Lifts Ban

Allianz SE said the US Securities and Exchange Commission agreed to let it return to the fund business, three years after one of its units pleaded guilty to securities fraud over the collapse of the insurance giant’s Structured Alpha hedge funds.

The 2022 plea by Allianz Global Investors US triggered an automatic 10-year ban from the industry that also limited Allianz’s ability to offer investment advisory services through other businesses, with the exception of Allianz Life and its bond manager Pimco.

To resolve the embarrassing chapter, the German insurance giant agreed to pay nearly $6 billion, sell the bulk of ...