{"id":63235,"date":"2018-04-16T12:21:00","date_gmt":"2018-04-16T12:21:00","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=63235"},"modified":"2018-04-16T12:21:00","modified_gmt":"2018-04-16T12:21:00","slug":"guggenheim-says-cooperating-sec-investigation","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/guggenheim-says-cooperating-sec-investigation.html","title":{"rendered":"Guggenheim says it is cooperating with SEC investigation"},"content":{"rendered":"<h2 style=\"text-align: justify\"><strong><span style=\"font-size: 18pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Guggenheim says it is cooperating with SEC investigation<\/span><\/strong><\/h2>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Guggenheim Partners on Sunday said it was \u201ccooperating fully\u201d with an investigation of its asset management subsidiary that is being conducted by the U.S. Securities and Exchange Commission.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">\u201cWe are cooperating fully with the SEC\u2019s investigation of our subsidiary,\u201d the statement read, \u201cand we cannot comment further.\u201d<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">The statement followed a report in the Wall Street Journal that the company was asked to retain documents related to transactions involving a second company, ABS Capital Co LLC.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">The SEC is pursuing details on a real-estate transaction and other deals involving ABS Capital, which is owned by two former Guggenheim managers, the Journal reported, citing unidentified people.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Guggenheim has not been accused of wrongdoing.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">The SEC declined to comment.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">The investigation adds another headache for executives at the asset manager and investment bank, including Chief Executive Mark Walter, an owner and the chairman of the Los Angeles Dodgers baseball team, who have been working to quell clients\u2019 concerns about continuing scrutiny by the SEC.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Guggenheim oversaw $305 billion in assets at the end of 2017.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Meanwhile, the company has had to respond to questions about Walter\u2019s relationship with an employee, Alexandra Court, and her elevation to a role overseeing institutional distribution. Guggenheim has said the two have only a business relationship.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">ABS drew attention partly for its purchases of one property in Malibu, California, and another two in Pacific Palisades. Court lives in one of the homes, the Journal reported. She did not respond to a request for comment.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">In a statement on Sunday, a spokesman for ABS said it did not borrow any money from the Guggenheim subsidiary, Guggenheim Partners Investment Management, or assets managed by them \u201cin connection with the financing of those homes, or for any other purpose.\u201d<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">(This version of the story has been refiled to correct typographical error in headline)<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 14pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Reporting by Trevor Hunnicutt; Additional reporting by Michelle Price; Editing by Jennifer Ablan and Sandra Maler<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-size: 8pt;font-family: Arial, Helvetica, sans-serif;color: #000000\">Source:-https:\/\/www.reuters.com\/article\/us-deutsche-bank-strategy\/ecb-asks-deutsche-bank-to-gauge-investment-banking-exit-costs-source-idUSKBN1HM0XV<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/business\/guggenheim-says-cooperating-sec-investigation.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Guggenheim says it is cooperating with SEC investigation Guggenheim Partners on Sunday said it was \u201ccooperating fully\u201d with an investigation of its asset management subsidiary that is being conducted by the U.S. Securities and Exchange Commission. \u201cWe are cooperating fully with the SEC\u2019s investigation of our subsidiary,\u201d the statement read, [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":63236,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[146,117626,131628,128711,30775,128710],"class_list":["post-63235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business-news","tag-business-news-today","tag-guggenheim-says-it-is-cooperating-with-sec-investigation","tag-latest-and-daily-business-news","tag-latest-business-news-usa","tag-live-updates-news"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/63235","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=63235"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/63235\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/63236"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=63235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=63235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=63235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}