OEP Capital Advisors fined $4M over policy failures
By 
Kyle Brasseur2023-12-27T18:03:00
New York-based registered investment adviser OEP Capital Advisors agreed to pay a $4 million penalty as part of a settlement with the Securities and Exchange Commission (SEC) addressing alleged deficiencies regarding the prevention of misuse of material nonpublic information (MNPI).
OEP failed to maintain and enforce written policies and procedures to prevent misuse of MNPI and potentially misleading communications to current and prospective investors in funds it advised, the SEC said in its administrative proceeding Tuesday.
From at least 2019 through 2022, OEP senior personnel repeatedly violated the firm’s MNPI policies by sending marketing emails to current investors, potential investors, and industry contacts that disclosed nonpublic information regarding mergers and acquisitions activities, according to the SEC’s order.
Related articles
-
News BriefVanEck fined $1.8M over influencer promo nondisclosure
Van Eck Associates agreed to pay $1.75 million as part of a settlement with the Securities and Exchange Commission regarding its alleged failure to properly disclose the planned involvement of a social media influencer in the launch of an exchange-traded fund.
-
News BriefAon unit to pay $1.5M for misleading pension fund
Aon Investments USA and its former partner agreed to pay nearly $1.6 million in combined penalties to settle charges by the Securities and Exchange Commission that they misled a Pennsylvania school pension fund.
-
News BriefCharter Communications fined $25M over stock buyback violations
The Securities and Exchange Commission fined Charter Communications $25 million for violating internal accounting control requirements related to stock buybacks.
More from Regulatory Enforcement
-
PremiumA case-by-case analysis of FCPA investigation closures
Foreign corruption enforcement relating to national security matters has been a common theme under the Trump administration. A second common theme continues to be the discrete way in which the DOJ has ended several FCPA investigations.
-
ArticleFinCEN cuts off 10 Mexican casinos from U.S. financial system for laundering cartel drug money
Ten Mexican cartels will be severed from the U.S. financial system for laundering money for the Sinaloa Cartel criminal organization, according to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN).
-
News BriefCompliance concerns surface at Fannie Mae following internal probe
A probe into Fannie Mae uncovered compliance and governance concerns involving FHFA director Bill Pulte and other senior officials. The result, so far at least, was not to address the concerns uncovered but to fire staff in Fannie Mae’s ethics and internal investigations unit.