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Violation Tracker Individual Record

Company: MIO Partners Inc.
Penalty: $18,000,000
Year: 2021
Date: November 19, 2021
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: An affiliate of McKinsey & Company that offers investment options exclusively to current and former McKinsey partners and employees agreed to pay an $18 million penalty for compliance failures. The SEC's investigation found that the affiliate maintained inadequate policies and procedures to prevent McKinsey partners from misusing material nonpublic information they obtained as consultants to public companies and other McKinsey clients while they were simultaneously overseeing the affiliate's investment decisions.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.