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SEC to Fund Admins: No Proof, No NAV

FinOps Report

31 Jan 2018

According to Kelley Howes in the FinOps Report article “SEC to Fund Admins: No Proof, No NAV,” the SEC faulted Gemini, not for false paperwork produced by Daniel Thibeault but rather for its slow response to act after discovering the discrepancy.

“The SEC raised concerns that Gemini waited too long for the loan documentation to be produced while taking no corrective action and still calculating the NAV,” she said.

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