SEC Penalizes Private-Fund Manager Sciens for Compliance Failurewsj.com/articles/sec-penalizes-private-fund-manager-sciens-for-compliance-failure-7a835770
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 wsj.com, 2023-05-25.