Defendant Name:
KCAP Financial, Inc.
Defendant Type:
Public Company
Document Reference:
34-84718-s
Document Details
Legal Case Name
In the Matter of KCAP Financial, Inc.
Document Name
Business Development Company Admits Books, Records and Reporting Violations as Well as Internal Control Failures
Document Date
04-Dec-2018
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
The SEC stated: "KCAP Financial, Inc., a New York based business development company, has admitted that it failed to properly account for distributions it received from its wholly-owned Asset Manager Affiliates ("AMAs") by recording the entirety of those distributions as dividends when a majority of the funds received were in fact a return of capital."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order