Fairfax Financial Holdings Ltd. in Canada said its subsidiary has received a subpoena from the U.S. Securities and Exchange Commission over its dealings with Berkshire Hathaway's General Re.
The Toronto-based financial and insurance company said the SEC's subpoena is requesting documents related to "any non-traditional insurance product transactions" entered into by its Fairmont Specialty unit with General Re.
General Re has been one of the largest providers of non-traditional finite risk products in the past and is part of the widening regulatory probes. Fairfax said it is cooperating with the request.
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