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Paulita Pike Discusses SEC Liquidity Enforcement Case

Practices: Asset Management, Investment Management, Registered Funds, Securities & Futures Enforcement

The SEC recently charged an advisor and two independent directors with violations related to Rule 22e-4, the first enforcement action since the rule was initiated.

Asset management partner Paulita Pike told BoardIQ that, “this appears to be an egregious case.”

“It is highly unusual for service providers to resign in these circumstances, but if outside service providers are raising issues, this shows they need to be listened to. The broader takeaway here is that, if the SEC says they are looking carefully at an issue, you have to assume it is a focus area,” she said.

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