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Knight Investors Need ‘Post-Mortem,’ Royce’s Kaplan Says

Aug. 7 (Bloomberg) -- Knight Capital Group Inc. investors need to get a better idea of events leading to the trading loss that drove the market maker to the brink of bankruptcy, said a portfolio manager at Royce & Associates LLC, Knight’s second-biggest shareholder.

“The first thing we need to see is a good post-mortem,” Jay Kaplan said today in an interview on Bloomberg Television’s “Market Makers” with Erik Schatzker and Stephanie Ruhle. “We do need to learn about risk controls,” Kaplan said.

Royce is a unit of Baltimore-based Legg Mason Inc.

To contact the reporter on this story: Charles Stein in Boston at cstein4@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

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