Guggenheim under SEC Inquiry for Alleged Self-Dealing
by James Fontanella-Khan, Sujeet Indap, Joe Rennison and Kara Scannell of the Financial Times
Why due diligence of investment managers is getting more complex. This is especially the case as managers become more complex. Caveat emptor.
"Top executives at Guggenheim Partners carried out a series of deals (at least $1bn of client money ) with companies close to the Wall Street firm’s leadership that have triggered concerns over possible favouritism and self-dealing from its own internal compliance, auditing and investment teams, a Financial Times investigation has found."