Investment adviser Sound Point Capital Management will pay a $1.8 million fine to the Securities and Exchange Commission for failing to have written compliance procedures on handling material nonpublic information (MNPI).
New York City-based Sound Point failed to “establish, maintain, and enforce written policies and procedures reasonably designed to prevent the misuse of [MNPI] concerning its trading of collateralized loan obligations (CLOs),” the SEC alleged in a press release Monday.
