SEC settles expense-allocation proceeding with Platinum Equity Advisors

The SEC entered a settled cease-and-desist order against Platinum Equity Advisors, LLC concerning allocation of broken-deal expenses to advised private equity funds without disclosure that affiliated co-investors did not share those expenses. The adviser accepted the order without admitting or denying the findings, except jurisdiction. This historical regulatory proceeding concerns the named adviser, not a new finding against each portfolio company.