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Wilbur Ross’ investment firm WL Ross & Co has agreed to pay a $2.3 million fine to the US Securities and Exchange Commission (SEC) to settle charges that it did not adequately disclose some of the fees it charged investors, according to a report in Reuters today.
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The SEC’s fine is the latest in a series of actions taken by the financial watchdog against the private equity sector, as it seeks to crack down on undisclosed fee collection by fund managers and increase transparency in ... (read more)