Och-Ziff Turns Attention to Waivers After Unit’s Guilty Plea
- Effort to ease curbs on issuing securities, managing pensions
- Growing Democratic resistance raises risks in waiver process
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Och-Ziff Capital Management LP will now turn to U.S. regulators for permission to move on with business as usual after a unit pleaded guilty over its dealings in Africa.
Any financial company touched by guilty pleas may find certain activities cut off unless it can persuade the government to make exceptions. While it may not be essential for Och-Ziff to secure such waivers, it may need some of them to continue doing such things as issuing securities and courting pension clients. And if the process becomes politically contentious, as it sometimes has, some clients could get skittish.