SEC Penalizes Private-Fund Manager Sciens for Compliance Failure

The Securities and Exchange Commission penalized Sciens Diversified Managers for not having a proper policy for valuing fund assets, a failure the regulator said can lead firms to overcharge investors for fund management fees.
The SEC announced the settlement with New York-based Sciens Wednesday. The private-fund manager agreed to pay a $275,000 penalty and hire a consultant…

This story appeared on, 2023-05-25.
The Web's Most Comprehensive Business News Hub. Free to Use →