The Securities and Exchange Commission (SEC) ordered a New York-based financial technology investment adviser to pay more than $1 million for allegedly misleading investors with hypothetical performance metrics in its advertising, the first violation of the agency’s amended marketing rule.
Titan Global Capital Management USA agreed to cease and desist from further violations; a censure; and pay a civil monetary penalty of $850,000, disgorgement of $192,454, and prejudgment interest of $7,598, the SEC said in a press release Monday.
