SEC Probes Jefferies Over Its First Brands Disclosures: FT

The US Securities and Exchange Commission is probing Jefferies over its relationship with First Brands Group, the Financial Times reports, citing people familiar with the matter.

• Regulator is seeking information about whether Jefferies gave investors in its Point Bonita fund enough information about their exposure to the auto business
  • Also looking into internal controls and potential conflicts within and between different parts of the bank
• SEC’s inquiry is at an early stage and it is not clear whether it will result in any allegations of wrongdoing
• Jefferies declined to comment to the FT, while the SEC told the FT it ...