Allianz Faces Probe in Germany Over US Investment Funds -Reuters
September 07 2021 - 5:48AM
Dow Jones News
--Allianz is under investigation in Germany over the demise of
its U.S. Structured Alpha Funds, Reuters reports, citing unnamed
sources.
--The investigation by the country's financial regulator BaFin
is examining to what extent executives outside the fund division
had knowledge of the events leading up to the funds' losses,
according to Reuters.
--BaFin is in a fact-finding phase, but has picked up pace since
Allianz announced it was facing a probe by the U.S. Justice
Department, Reuters reports.
--Allianz told The Wall Street Journal that it is in regular
contact with BaFin in all matters of importance, including around
Structured Alpha Funds.
Full story: https://reut.rs/2YyvTYx
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
September 07, 2021 05:33 ET (09:33 GMT)
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