Jefferies slips after report SEC probing co over First Brands exposure

Shares of investment bank Jefferies Financial Group JEF.N fall 1.5% to $56.36 premarket

Financial Times reported on Thursday U.S. Securities and Exchange Commission was probing bank over its exposure to bankrupt auto parts supplier First brands

Report says SEC investigating if Jefferies provided investors in its Point Bonita credit fund sufficient information about the fund's exposure to First Brands

Jefferies' Leucadia Asset Management fund also held about $715 mln in receivables linked to First Brands, which filed for Chapter 11 bankruptcy on September 29

Days before the bankruptcy filing, more than a dozen companies associated with First Brands had filed for bankruptcy protection

JEF first announced its exposure to First Brands in October, saying it was limited and any potential losses would be "readily absorbable"

First Brands did not respond to Reuters request for comment, while Jefferies declined to comment

Up to last close, Jefferies shares down 27% YTD