SEC enforcers swoop on CLO combo notes

The Securities and Exchange Commission (SEC) is taking a second look into combination notes, a genre of resecuritized CLOs, nearly nine months after Moody’s was fined for allegedly misrepresenting risks contained in the blended debt products. Alex Saeedy reports.

  • By Alexander Saeedy
  • 30 Apr 2019
The SEC’s Division of Enforcement is probing market participants to find out how combination notes are rated and whether managers and insurers are engaged in shopping for ratings for them, according to sources familiar with the inquiry (who requested anonymity because the investigation is under way). The investigation ...

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3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.78

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