BDC Settles SEC Complaint Regarding Valuations

November 28, 2012

Today the SEC issued an Order Instituting Proceedings (OIP) against KCAP Financial, Inc. (KCAP), an internally managed business development company, as well as two current KCAP officers and one former KCAP officer (the Individual Respondents and, together with KCAP, the Respondents). The focus of the OIP is the valuation methodology used by KCAP during the period from the end of 2008 through the middle of 2009, a time when the credit markets suffered a substantial dislocation.

Read “BDC Settles SEC Complaint Regarding Valuations.”