You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

SEC says former Oppenheimer manager inflated results

NEW YORK — Federal securities regulators Tuesday accused a former portfolio manager at Oppenheimer & Co. of misleading investors about the performance of a fund, a rare enforcement action involving the private equity industry.

The Securities and Exchange Commission contends that Brian Williamson issued quarterly reports and marketing materials that inflated the performance results of an Oppenheimer private equity fund.

Continue reading below

In March, Oppenheimer agreed to pay $2.8 million to resolve its role in the case. But Williamson is fighting the charges.

The SEC’s asset-management unit, which brought the Oppenheimer case, has stepped up its focus on the private equity business. In January, Bruce Karpati, the head of the enforcement division’s asset-management unit, said he was concerned that firms could be propping up returns to impress investors and potential clients.

Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of