Market Chatter: US Widens Investigation Into B. Riley

MT Newswires Live08-12

The US Securities and Exchange Commission is expanding its probe into B. Riley Financial (RILY), looking into its handling of risk disclosures as well as Founder Bryant Riley's relationship with Franchise Group (FRG) CEO Brian Kahn, Bloomberg reported, citing people familiar with the matter.

The SEC is assessing whether B. Riley adequately disclosed the risks associated with some of its assets, the sources told Bloomberg. Investigators are also seeking information on interactions between Riley and Kahn, whose Franchise Group is one of B. Riley's larger investment holdings, as well as a review of possible improper trading by other insiders, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 9.30, Change: -7.65, Percent Change: -45.13

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Riley\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-12 20:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The US Securities and Exchange Commission is expanding its probe into B. 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