A New York-based investment adviser agreed to pay $1.75 million as part of a settlement with the Securities and Exchange Commission (SEC) regarding its alleged failure to properly disclose the planned involvement of a social media influencer in the launch of an exchange-traded fund (ETF).
Van Eck Associates Corp. was faulted for not implementing policies and procedures reasonably designed to prevent the violations of the Advisers Act related to the nondisclosure, the SEC announced in a press release Friday.
