NEPC LLC, an investment consulting firm headquartered in Boston was fined $725,000 by the Securities and Exchange Commission this week for failing to file reports.
NEPC failed to file two different types of reports known as 13F and 13H forms. 3F forms are required to be filed because they have discretion over more than $100 million in certain securities. 13H forms are required for large traders who trade a significant amount of exchange-listed securities.
The SEC said in announcing the fine that NEPC, along with 10 other firms charged, all agreed to settle with the commission.
“The integrity of the securities markets depends largely on firms providing accurate, timely information about their securities holdings and trading activity,” Jason Burt, director of the SEC’s Denver Regional Office, said in a statement. “These resolutions illustrate how seriously the Commission takes non-compliance as well as the benefits a firm may derive from self-reporting its non-compliance.”
NEPC was founded in 1986 and helps governments, institutions, families and individuals preserve and grow their capital across different asset classes and market cycles according to its website. The firm claims to have $1.7 trillion in assets under advisement.
NEPC did not respond to requests for comment regarding the fine.