Staff

The Securities and Exchange Commission ordered Nevis Capital Management LLC, a Baltimore-based money management firm, to pay $1.7 million, and its two top officers $150,000 each, to settle charges of fraudulent and improper conduct. Nevis and its president, David R. Wilmerding III, and Executive Vice President Jon C. Baker were accused of improperly funneling initial public offering shares to two of Nevis' 105 clients to increase management fees.

Copyright 2004 Dolan Media Newswires

Provided by ProQuest Information and Learning Company. All rights Reserved.