Call it a case of double-dipping: the SEC has fined a McKinsey affiliate that manages money for the consulting firm’s employees citing improper use of information. The SEC claims that the McKinsey Investment Office (or MIO) invested in companies McKinsey partners were advising, and then made investment decisions based on privileged knowledge from those partners. The SEC doesn’t outright claim insider trading, but is fining MIO $18 million for compliance violations.
💵 McKinsey In Hot Water With The SEC
💵 McKinsey In Hot Water With The SEC
💵 McKinsey In Hot Water With The SEC
Call it a case of double-dipping: the SEC has fined a McKinsey affiliate that manages money for the consulting firm’s employees citing improper use of information. The SEC claims that the McKinsey Investment Office (or MIO) invested in companies McKinsey partners were advising, and then made investment decisions based on privileged knowledge from those partners. The SEC doesn’t outright claim insider trading, but is fining MIO $18 million for compliance violations.