(Bloomberg) Barclays Plc and Deutsche Bank AG face scrutiny over their sale of products to a hedge-fund manager that allowed it to skirt borrowing limits and avoid taxes, according to people with knowledge of the matter.
The U.S. Senate Permanent Subcommittee on Investigations plans a hearing next week on what it calls abusive transactions by financial institutions, according to a July 14 notice from the panel. The companies, which aren’t named in the notice, are Barclays, Deutsche Bank and hedge-fund manager Renaissance Technologies LLC, the people said. Representatives for each of the companies plan to testify at the July 22 hearing, the people said.
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