US SEC Investigating Dealings With Sovereign Funds: Report

The U.S. SEC is investigating whether banks and private-equity firms violated bribery laws in their dealings with sovereign-wealth funds, The WSJ reported on Thursday. The newspaper, citing people familiar with the matter, said the SEC has sent letters of inquiry to as many as 10 companies in the past week. Among the companies are Citigroup (C) and private-equity firm Blackstone Group (BX), the report said. – Reuters

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