Defendant Name: OZ Management, LP

Defendant Type: Subsidiary of Public Company
Public Company Parent: Och-Ziff Capital Management Group LLC

Document Reference: AP-5942

Document Details

Legal Case Name In the Matter of Och-Ziff Capital Management Group, LLC, OZ Management LP, Daniel S. Och, and Joel M. Frank
Document Name Notice of Extension of Stay
Document Date 24-Jul-2018
Document Format Administrative Proceeding
File Number 3-17595
Administrative Law Judge Jason S. Patil
Allegation Type Foreign Corrupt Practices Act
Document Summary On July 24, 2018, the SEC filed a notice of extension of stay in the administrative proceeding against Oz Management LP. The stay was extended to August 22, 2018.

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On September 29, 2016, the SEC issued a settled administrative proceeding against OZ Management, LP for Foreign Corrupt Practices Act violations.
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On October 11, 2016, Administrative Law Judge, Jason S. Patil, issued an order addressing the September 29, 2016 OIP question of "what, if any, civil penalties pursuant to Section 21(B)(a) of the Exchange Act against Joel M. Frank are in the public interest."
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According to the SEC: "Upon reconsideration of the record, [Jason S. Patil, the ALJ] find[s] nothing that requires revisions. Therefore, [the ALJ ratifies] all prior actions taken by an administrative law judge in this proceeding. The process contemplated by the Commission's November 30 order is complete."
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According to the SEC: "On June 21, 2018, the Securities and Exchange Commission issued an order immediately staying all administrative proceedings pending before its administrative law judges in light of the Supreme Court's decision in Lucia v. SEC, No. 17-130 (U.S. June 21, 2018). Pending Admin. Proc., Securities Act of 1933 Release No. 10510, https://www.sec.gov/litigation/opinions/2018/33- 10510.pdf. The stay will last until July 23, 2018, or further order of the Commission. Id."
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On November 6, 2018, the SEC issued an order denying joint proposal to set a schedule. The SEC stated: "[B]ecause United States v. Oz Africa Management GP and United States v. Cohen are Related Actions, I cannot convene a hearing until final judgments have been entered in them. If the parties wish to proceed before those final judgments are issued, the appropriate remedy is for the Division of Enforcement to move the Securities and Exchange Commission to amend the OIP"
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Administrative Law Judge James E. Grimes stated: "This proceeding was recently reassigned to me. I direct the Division of Enforcement to submit, by October 15, 2019, a report about the current status of the 'actions related to the conduct described' in the order instituting proceedings. The Division must submit a further status update by April 15, 2020, and every six months thereafter."
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The Administrative Law Judge stated: "The docket of that case shows that the court entered final judgment on November 12, 2020 . Judgment in a Criminal Case, United States v. OZ Africa Mgmt. GP, LLC , 16 cr 515 (E.D.N.Y. Nov. 12, 2020), ECF No. 111. The OIP directed me to issue the initial decision no later than 120 days from the date of the last final judgment, which would be March 12, 2021. Because of this accelerated schedule and delay in learning about the final judgment , I will hold a telephonic prehearing conference on December 17, 2020, at 2:00 p.m. E ST ."
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The Administrative Law Judge stated: "Respondent Joel M. Frank and the Division of Enforcement, the only parties remaining in this proceeding, have agreed in principle to a settlement on all major terms and jointly moved for a stay . . . I GRANT that motion and STAY the proceeding. "

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