The US Securities and Exchange Commission (SEC) has reportedly contacted American investment firms in relation to their exposure to Russian assets and how this could affect investors, as geopolitical risks in Crimea have heightened.
The regulator has reportedly asked the companies confirm whether they are weighing risks and properly disclosing their investments.
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Citing undisclosed sources, Reuters reported that attorneys with the SEC have contacted mutual funds and exchange-traded funds more than a week ago over their levels of Russian exposure.
"We want to be proactive, so we are making sure the firms are thinking about it," Norm Champ, director of the SEC Investment Management Division, told Reuters.
However, the SEC did not base the conversations with investment managers on a specific investigation nor did it try to tell funds how to invest.
The SEC has been particularly interested in speaking with funds that have more than 10% exposure to Russian securities, including stocks and bonds, one person familiar with the agency’s activities said, the report added.
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