SEC Charges RIA with Misleading Investors about its Investment Strategy

SEC Charges RIA with Misleading Investors about its Investment Strategy On September 19, 2024, the SEC charged an Idaho-based Registered Investment Adviser (RIA) with making misleading statements, as well as compliance failures, related to the firm’s execution of its...

The SEC Disciplines More RIAs for Performance Advertising Rule Violations

The SEC sent another shot across the bow to warn Registered Investment Advisers (RIAs) that the Commission is deadly serious about enforcing the Marketing Rule. On April 12, 2024, the SEC charged five RIAs with violating the Marketing Rule. All of those firms agreed...

SEC Disciplines RIAs for Non-Compliant Hypothetical Performance Advertising

On September 11, 2023, the SEC continued its crackdown on Registered Investment Advisers (RIAs) using hypothetical performance advertising by bringing cases against nine advisers. RIAs that advertise hypothetical performance, or plan to do so, should read these SEC...

RIA’s Hypothetical Performance Ads Cause Real Life Compliance Problems

On August 21, 2023, the SEC charged a New York-based FinTech investment adviser with using misleading hypothetical performance metrics in the firm’s advertisements. This enforcement action is particularly noteworthy, because it is the first case brought involving...

SEC Enhances Recordkeeping Requirements and Bolsters Regulation of Private Fund Advisers

On August 23, 2023, the SEC adopted new rules and rule amendments to enhance the regulation of private fund advisers. The SEC also updated Rule 206(4)-7 under the Investment Advisers Act, better known as the Compliance Rule, which applies to all Registered Investment...