Allianz Faces Probe in Germany Over US Investment Funds -Reuters

--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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