Nine investment advisers will pay a total of $1.24 million to settle allegations that they violated the Securities and Exchange Commission’s (SEC) marketing rule by disseminating advertisements with untrue or misleading information.
The SEC said in a press release Tuesday that its “ongoing sweep” also found that the investment advisers made “untrue or unsubstantiated statements of material fact or testimonials, endorsements, or third-party ratings that lacked required disclosures.”
