Bill Gross Not Ashamed Of Driving A Hard Bargain


What’s so wrong about throwing your weight and a few carefully chosen bon mots around for the benefit of your investors, the PIMCO chief undoubtedly asked his also undoubtedly perplexed SEC interviewers.

The U.S. regulatory probe into Bill Gross’s Pimco Total Return ETF is separate from a broader scrutiny of disclosure in the exchange-traded fund industry….

The SEC’s probe into pricing issues at Pimco has been going on for months and the agency’s investigators have interviewed Gross, the person said….

“Because Pimco is an 800-pound gorilla, they negotiate a really good price,” he said. “If the SEC wants to change how bonds are priced, then they can do that, but that’s going to change everybody.”

Pimco’s ETF Probe Said to Be Separate From Industry Sweep [Bloomberg]