Insights & Publications
Diversity & Inclusion
© 2021 Debevoise & Plimpton LLP
Fund Directors Charged in Recent SEC Enforcement Case Targeting Valuation
14 December 2012
Earlier this week, the SEC brought an enforcement action against eight mutual fund directors for failing to oversee the valuation processes and procedures for securities held by the funds.
This action follows other recent valuation actions and demonstrates the SEC's continued prioritization of asset valuation investigations. The action also demonstrates the SEC's willingness to charge senior fund officials with failing to ensure the fair valuation of hard-to-value securities.
Fund directors and senior management should anticipate increased SEC scrutiny in the area of valuation, and should take steps to ensure that valuation policies and procedures are adequate and are strictly followed by fund personnel.
Private Equity Firms and Funds
Private Equity Buyouts & Other Investments
White Collar & Regulatory Defense
Paul R. Berger
Jonathan R. Tuttle
Ada Fernandez Johnson
Eric R. Dinallo
View More Authors
UK Modern Slavery Act Transparency Statement
Debevoise Login (2)
Debevoise Women's Review