SEC charges Ranieri Partners over investment solicitations
March 11 (Reuters) - The U.S. Securities and Exchange Commission on Monday said private equity firm Ranieri Partners LLC has agreed to pay $375,000 to settle charges that it employed an unregistered consultant to help solicit more than $500 million of investments for its funds.
Donald Phillips, a senior managing director for Ranieri, agreed to pay a $75,000 penalty, while the consultant William Stephens agreed to a bar from the securities industry, the SEC said. None of the defendants admitted or denied wrongdoing in agreeing to settle.
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