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Member, Beacon International Group, Ltd.
TORONTOFederal prosecutors in New York will review information on finite risk and securities transactions that Fairfax Financial Holdings Ltd. is providing under existing subpoenas, Fairfax confirmed.
Toronto-based Fairfax said it has not received subpoenas or requests for information directly from the U.S. Attorney for the Southern District of New York, and that it has not been notified that it is a target of an investigation by the U.S. Attorney's office. Prosecutors will examine information and documents Fairfax provides to the Securities and Exchange Commission, the company reported.
The SEC subpoenaed Fairfax last month for documents and information about any finite risk transactions entered into by Fairfax subsidiaries and any finite products offered by the units. In a follow-up subpoena, the SEC also requested information regarding "any transactions in securities of Fairfax Financial" and the compensation for such transactions, along with trading volume and share price data, Fairfax reported.