Valuation remains squarely in the crosshairs of the SEC’s enforcement division, as evidenced by the complaint filed on October 17, 2012 by the SEC against hedge fund sponsor Yorkville Advisors LLC (Yorkville), its principal and its chief operating officer.  The case is the seventh arising out of the SEC’s Aberrational Performance Inquiry.  See “Hedge Fund Managers with Unexplained Aberrational Performance Are More Likely to Become Targets of SEC Enforcement Actions,” Hedge Fund Law Report, Vol. 4, No. 44 (Dec. 8, 2011).  This article summarizes the factual background, claims and relief sought by the SEC in this action.