- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-08-27T17:06:00
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.
According to the SEC’s order, Sound Point managed and traded its own CLOs, along with third-party CLOs. Its credit business participated in lender groups or creditors’ committees. Through these sources, Sound Point occasionally came into possession of MNPI.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership limited time offer
Subscribe now for $365
Our lowest price ($1 per day) for one year.
Annual Membership $499
Full price one year membership.
A former Apple attorney who oversaw the company’s compliance with insider trading rules will pay a $1.1 million fine to settle insider trading charges levied by the Securities and Exchange Commission.
The Department of Justice and Securities and Exchange Commission announced charges against a dozen individuals across four separate insider trading cases, including an alleged scheme involving the chief compliance officer of an international payment processing company.
Asset management firm Sound Point Capital Management announced the appointment of Andrea Sayago as chief compliance officer and associate general counsel.
The U.S.-based subsidiary of Australian defense contractor Austal will pay $48.8 million in fines and restitution to settle allegations that it committed accounting and securities fraud, misled federal auditors, and violated the False Claims Act.
Los Angeles will pay more than $38 million to resolve allegations, first brought by two whistleblower, that for a decade the city knowingly shut people with disabilities out of affordable housing created through federal funds, the Department of Justice (DOJ) said.
The Dutch Data Protection Authority fined Uber 290 million euros (U.S. $323.7 million) for illegally transferring data on European drivers to American servers and failing to appropriately safeguard the transfers.
