Bain Capital Credit, Lp

Allegations: IN RELATION TO TWO EQUITY OWNERSHIP REPORTS THAT WERE INADVERTENTLY FILED LATE IN 2020 AND 2022, AN AFFILIATE OF BAIN CAPITAL CREDIT, LP, IN SEPTEMBER 2024, VOLUNTARILY AGREED, WITHOUT ADMITTING ANY WRONGDOING, TO PAY A PENALTY AS PART OF A SETTLEMENT WITH THE SEC. UNDER SECTION 13(D) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RELATED RULES, IN EFFECT DURING THIS TIME, ANY PERSON WHO HAS ACQUIRED BENEFICIAL OWNERSHIP OF MORE THAN 5% OF CERTAIN EQUITY SECURITIES MUST FILE, WITHIN 10 DAYS, A DISCLOSURE STATEMENT WITH THE SEC. THERE IS NO STATE OF MIND REQUIREMENT FOR SECTION 13(D) REPORTING REQUIREMENTS. AS THE SEC FOUND, IN SOME PRIVATE CREDIT TRANSACTIONS, ENTITIES MAY NOT HAVE KNOWLEDGE OF THEIR PRECISE HOLDINGS IN AN ISSUER UNTIL AFTER A TRANSACTION CLOSES, WHICH IN THESE INSTANCES AFFECTED THE TIMELY MONITORING OF CHANGES TO HOLDINGS OF PUBLIC SECURITIES. THE SEC ALLEGED THAT DURING THE GLOBAL COVID-19 PANDEMIC, THE AFFILIATE'S INTERNAL PROCESSES DID NOT TIMELY IDENTIFY THE NEED TO MAKE THESE OWNERSHIP FILINGS, AND AS A RESULT, THE AFFILIATE INADVERTENTLY FILED THE SCHEDULE 13D REPORTS FOR THESE TRANSACTIONS LATE. THE SEC CONSIDERED THAT THE AFFILIATE OF BAIN CAPITAL CREDIT, LP TOOK REMEDIAL STEPS AND RECOGNIZED ITS COOPERATION IN THE MATTER. THE PENALTY WAS PAID BY THE AFFILIATE OF BAIN CAPITAL CREDIT, LP AND WAS NOT BORNE BY ANY OF ITS FUNDS OR INVESTORS IN ITS FUNDS. Status: Final Sanction Detail: AN AFFILIATE OF BAIN CAPITAL CREDIT, LP AGREED TO PAY A $130,000 PENALTY. BAIN CAPITAL CREDIT, LP MADE THE PAYMENT ON SEPTEMBER 27, 2024, AND NO FUND OR INVESTOR BORE ANY PORTION OF SUCH PAYMENT IN RESOLVING THE MATTER. IN ADDITION, THE AFFILIATE OF BAIN CAPITAL CREDIT, LP WAS ORDERED TO CEASE AND DESIST FROM COMMITTING OR CAUSING ANY VIOLATIONS AND ANY FUTURE VIOLATIONS OF SECTION 13(D)(1) OF THE EXCHANGE ACT AND RULE 13D-1 THEREUNDER. Summary: ORDER IS FINAL AND THE PENALTY HAS BEEN PAID IN FULL.