- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
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.
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