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
-
ArticleFormer startup CEO gets 7 years in prison for $175M fraud against JPMorgan Chase
Charlie Javice, a former CEO who duped JPMorgan Chase into purchasing her start up company for $175 million, has been ordered to forfeit more than $22 million by the Department of Justice (DOJ) and to spend 7 years in jail.
-
ArticleGeorgia Tech to pay $875,000 for allegations brought by compliance officers
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
-
ArticleTractor Supply Company hit with $1.35M fine for alleged California privacy violations
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.