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KCAP Financial Resolves SEC Inquiry

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KCAP Financial, Inc. (Nasdaq: KCAP) (NYSE: KCAP) announced it has reached a final settlement with the U.S. Securities and Exchange Commission (SEC) to resolve the previously disclosed SEC investigation into the 2008 and 2009 valuations of certain of the Company's investments and the valuation methodology and procedures used by the Company to value its investments prior to 2010.

Under the terms of the settlement, the Company will not pay any penalty or other monetary amounts. The SEC also reached settlements with two current and one former executive officer of the Company, who each agreed to pay certain civil monetary penalties.

Posted-In: News Legal

 

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