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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2024-02-19T15:00:00
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.
The March 2021 launch of the VanEck Social Sentiment ETF included plans to retain a popular social media influencer to aid in promotion. The involvement of the influencer led to changes VanEck agreed to in the proposed licensing fee structure to “incentivize the influencer’s marketing and promotion efforts,” the SEC said in its order.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2024-06-13T16:54:00Z By Aaron Nicodemus
Registered investment adviser Anson Funds Management and exempt reporting adviser Anson Advisers will combine to pay more than $2 million for allegedly misleading investors about their short fund strategy and related recordkeeping violations.
2024-03-19T18:48:00Z By Jeff Dale
The Financial Industry Regulatory Authority fined Chicago-based financial technology company M1 Finance $850,000 as part of a settlement addressing alleged improper use of a social media influencer program.
2024-02-09T17:05:00Z By Aaron Nicodemus
The ongoing off-channel communications sweep by the Securities and Exchange Commission netted 16 more broker-dealers and investment advisers, with the latest wave of fines totaling more than $81 million.
2024-10-22T21:18:00Z By Adrianne Appel
Precision Toxicology has agreed to pay $27 million to settle allegations first brought by whistleblowers in three cases, that the company billed the federal government for unnecessary drug tests and paid kickbacks to doctors, the Department of Justice (DOJ) said.
2024-10-22T16:08:00Z By Aaron Nicodemus
Fund management company WisdomTree will pay $4 million to settle allegations by the Securities and Exchange Commission that it improperly invested in fossil fuel and tobacco companies in environmental, social and governance (ESG) funds despite promising to avoid them.
2024-10-18T18:10:00Z By Adrianne Appel
A Vietnamese alcohol company has agreed to pay $860,000 to settle allegations by the Office of Foreign Assets Control (OFAC) that its business with North Korea involved U.S. financial institutions.
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