Apollo Global Settles Securities Case as S.E.C. Issues $53 Million Fine
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Leon Black, chief of Apollo Global Management. CreditPatrick T. Fallon/Bloomberg
Federal regulators on Tuesday delivered the latest blow to a giant private equity firm, announcing an enforcement action against affiliates of Apollo Global Management for an array of securities law violations.
The Securities and Exchange Commission issued a roughly $53 million punishment to Apollo, one of Wall Street’s most prominent private equity firms, and Apollo agreed to settle the case.
The settlement resolves accusations that Apollo misled its investors — about two different issues — and separately failed to supervise a senior executive suspected of misconduct. The executive, who was not named or charged in the S.E.C. case, was twice caught “improperly charging personal items and services” to Apollo’s funds and, by extension, its investors, the S.E.C. said…
Apollo Global Settles Securities Case as S.E.C. Issues $53 Million Fine
