The SEC has subpoenaed four banks over Situational Awareness

The SEC subpoenaed Goldman Sachs, JPMorgan Chase, Citigroup and Bank of America to provide trade timing, lender communications and preserve records on the Situational Awareness fund. The fund peaked at more than $30 billion, fell to about $10 billion after a 67% monthly loss, and was leveraged roughly 3:1 (up to 400%). Lenders forced a fire sale that Citadel bought at a 10% discount, while Jane Street incurred a $15 billion loss.