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US SEC probing Jefferies for bankrupt First Brands dealings, FT reports
Nov 27 (Reuters) - The U.S. Securities and Exchange Commission is probing investment bank Jefferies (JEF.N)
, opens new tab over its relationship with bankrupt auto parts supplier First Brands Group, the Financial Times reported on Thursday, citing people familiar with the matter.
The SEC is seeking information from Jefferies about whether it gave investors in one of its funds enough information about their exposure to the auto business, the report said.
Jefferies said in October that it had limited exposure to First Brands, which filed for Chapter 11 bankruptcy protection in September, and said any potential losses would be "readily absorbable."