German-headquartered Allianz SE could face a loss of around €3.5bn with the potential for a worst-case hit of €6.8bn, in light of ongoing investigation by the US Department of Justice (DOJ) into the Structured Alpha Funds of Allianz Global Investors, according to an analyst note by Berenberg. The DOJ probe follows a 2020 investigation by the US Securities and Exchange Commission (SEC) into the Structured Alpha Funds over claims of not safeguarding against pandemic-induced financial volatility. Berenberg said it expected the DOJ investigation to conclude quickly and also stated that i...
To continue reading this article...
Join International Investment
Signup and gain exclusive members-only insights
Join International Investment today
Unlock members-only benefits:
- Unlimited access to real-time news, industry insights, video features and market intelligence
- Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
- Receive breaking news stories straight to your inbox in the daily newsletters
- Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
- Members-only access to the Editor’s weekly news roundup newsletter
- Members-only access to analysis via our exclusive industry polls
- Be the first to hear about our events and awards programmes
