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2026-09-18 02:03:09
The U.S. Securities and Exchange Commission (SEC) is conducting an in-depth investigation into potential misconduct by the businesses of Guggenheim Partners CEO Mark Wolter. The SEC has already sent inquiry letters to current and former employees of Guggenheim Investments, which manages $367 billion in assets, focusing on interviews with individuals who previously oversaw portfolio management at the insurance companies. Some of the employees interviewed have hired lawyers to handle the investigation. While Guggenheim has issued a statement saying it will "fully cooperate" with the investigation and claims that its accounting practices are "compliant" and have been approved by its auditors, the scope of the investigation has expanded from the initial whistleblower report of misconduct in the private equity division's revenue and expense disclosures to undisclosed related-party transactions at Wolter's insurance companies. This year, two of the group's insurance subsidiaries were found to have failed to properly label over $20 billion in loans as related-party transactions, and these two subsidiaries received subpoenas from Manhattan federal prosecutors in June.
