SEC Charges Private Equity Firm, Former Executive, and Consultant for Improperly Soliciting Investments

On March 11, 2013, the SEC charged New York-based private equity firm Ranieri Partners, one of its former senior executives, and an unregistered broker with securities law violations for illegally soliciting more than $500 million in capital commitments for funds managed by the firm. William M. Stephens was the unregistered broker. Donald W. Phillips was…

Oppenheimer Advisors Face Charges of Misleading Investors in Oppenheimer Global Resource Private Equity Fund

Recently, the SEC charged two investment managers at Oppenheimer & Co. with misleading investors about the valuation policies and performance of a private equity fund, Oppenheimer Global Resource Private Equity Fund I L.P. (OGR). Additionally, on March 11, 2013, the Massachusetts Attorney General’s office announced a related action and additional financial penalties against Oppenheimer. According…