SEC v. FlowPoint Partners, LLC and Peter J. DeCaprio (2024)

Settled

Checked against the primary document on October 3, 2026. The library's summary, tags and figures for this record were compared with the regulator's own document by an AI model (Claude) following written instructions, with sampled and disputed records read a second time. No lawyer has reviewed them. A checked record can still contain errors, and checked does not mean endorsed. See how we check records or report a correction.

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In August 2024 the Securities and Exchange Commission charged the investment adviser FlowPoint Partners and its principal Peter DeCaprio with telling investors in four private funds that the funds were audited annually when no audit reports were produced, and with breaching fiduciary duties to two funds that required audits. Each agreed to a $145,000 penalty, $290,000 in total, subject to court approval. The only reference to inside information is an alleged failure to keep policies against misuse of non-public information; no insider trading is charged.

The record

Structured fields for this action, as recorded in our case library.
Agency	SEC
Release number	LR-26080
Date filed	2024-08-21
Date resolved	2024-08-21
Status	settled
Criminal parallel	No
Defendants	FlowPoint Partners, LLC (entity) ; Peter J. DeCaprio (individual)
Cited as charged or alleged	Advisers Act s.204A ; Advisers Act s.206 ; Securities Act s.17(a) (statutes and rules cited in the document; not a finding that they were violated)
Techniques

What was ordered

Civil penalty: $290k
Disgorgement: —
Prejudgment interest: —
Total relief: $290k
Alleged gain: —

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The Securities and Exchange Commission announced this matter on August 21, 2024 as release LR-26080, filing in the District of Massachusetts.

The complaint alleges misstatements about independent audits from about July 2020 to late 2023, in violation of antifraud provisions of the Securities Act and Advisers Act. It adds that FlowPoint failed to maintain written policies to prevent misuse of material non-public information, with DeCaprio aiding and abetting, but alleges no trading on such information.

The proposed judgments also require FlowPoint to review and correct its audit disclosures and bar DeCaprio from serving as an officer or director of certain public companies for three years.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

Timeline

2024-08-21 Litigation release published

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

SEC litigation release

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Record added September 10, 2026. submit a correction.