SEC cites Sound Point Capital Management for its handling of nonpublic info

The SEC said the fund adviser’s policies failed to consider the potential impact of material nonpublic information gained from serving as company lenders.

The SEC has announced settled charges against New York-based registered investment adviser Sound Point Capital Management LP for failing to establish, maintain, and enforce written policies and procedures reasonably designed to prevent the misuse of material nonpublic information (MNPI) concerning its trading of collateralized loan obligations (CLOs).

To settle the

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