SEC to Fund Admins: No Proof, No NAV

 
FinOps Report
February 2, 2018

David Mahaffey was quoted in the article, "SEC to Fund Admins: No Proof, No NAV," which was published by FinOps Report on February 2, 2018.

Speaking on a recent SEC decision that fined Gemini Fund Services, Mr. Mahaffey stated, "Gemini was servicing a fund with loan assets and it is not that difficult for a fund manager to create fraudulent documentation, while keeping the fund administrator waiting for the paperwork.”