SEC’s Wyatt Says Third Avenue Situations Are ‘Ongoing Concern’

Regulators remain worried about hard-to-sell assets held by high-yield bond funds as they probe whether the failure of the Third Avenue Focused Credit Fund could be repeated, a top U.S. Securities and Exchange Commission official said.

The SEC plans to release findings from a sweep of high-yield credit funds that followed the collapse of the Third Avenue Capital Management LLC fund, said Marc Wyatt, head of the regulator’s office of compliance inspections and examinations.