McKinsey Unit Pays $18 Million to SEC in Latest Compliance Lapse

A McKinsey & Co. affiliate that manages money for the global consulting firm’s employees allegedly let partners with insider knowledge of corporate deals oversee investments in public companies, triggering an $18 million fine from the U.S. Securities and Exchange Commission.

While the SEC didn’t accuse McKinsey or its workers of insider trading, the claims are the latest in a string of compliance headaches for the firm tied to nonpublic financial data. Just this month, in an unrelated case, a former McKinsey partner was criminally charged with making more than $450,000 in illicit profits by trading ahead of an acquisition he ...