Fairfax Financial Holdings Ltd. today disclosed that founder and CEO Prem Watsa has received subpoenas from the U.S. Securitites and Exchange Commission in connection with an answer to a question during a February 10 investor conference call.

The Toronto-based international insurance holding company added that the SEC has issued subpoenas to “various third parties”, including one to Fairfax’s outside auditors.

In a release, Fairfax said that it “cannot predict the outcome from these continuing inquiries, or the ultimate effect on its business, which effect could be material and adverse.”

Fairfax added that “it is possible that other governmental and enforcement agencies will seek to review information related to these matters, or that the company, or other parties with whom it interacts, such as customers or shareholders, may become subject to direct requests for information or other inquiries by such agencies.”

The company had announced in September that it received an SEC subpoena demanding documents regarding non-traditional insurance or reinsurance transactions. That followed the disclosure last June of an SEC subpoena to its Fairmont specialist insurance subsidiary based in Houston.

Last week, Fairfax said its 2005 financial results would be delayed because of restatements of 2001 to 2004 results at its Odyssey Re subsidiary in Connecticut.