Insurance giant Allianz disclosed in a press release Sunday that it could face enforcement resulting from an expanded probe into its Structured Alpha Funds business.
The Department of Justice (DOJ) has joined the Securities and Exchange Commission (SEC) in investigating the firm after multiple investors launched lawsuits last year over Structured Alpha-related losses incurred during market uncertainty caused by the pandemic. Allianz said it is cooperating with both regulators and has opened its own investigation into the matter.
