SEC Probing Jefferies Over First Brands Disclosures, FT Says (1)

The US Securities and Exchange Commission is probing Jefferies Financial Group Inc. over its relationship to bankrupt auto-parts supplier First Brands Group, according to the Financial Times.

The watchdog is seeking information about whether the bank gave investors in its Point Bonita fund sufficient disclosures about its exposure to First Brands, the FT said, citing two people it didn’t identify. The SEC is also looking into internal controls and potential conflicts within and between different parts of Jefferies, according to the newspaper.

Representatives for Jefferies and SEC declined to comment. The FT said the SEC inquiry is at an early ...