Wellington Cleared Again in New SEC Trading Probe (FundFire)

Gigi Szekely, IMP's Managing Director of Compliance, was quoted in the Fundfire article: Wellington Cleared Again in New SEC Trading Probe.  It’s the top story in today’s FundFire newsletter.  Excerpt below:

Though Wellington does not expect to face any enforcement action as a result of the inquiry, firms undergoing an SEC investigation must typically respond to the agency within a certain time period “to prove that the matter has been resolved or rectified,” says Gigi Szekely, managing director of compliance at IMP Consulting.

“I would say [a response is expected] anywhere between 30 and 90 days, depending on what the situation is. It depends on the complexity or the simplicity [of the matter],” Szekely adds.

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