Examinations Enforcement: Settlement

While advertising hypothetical performance, the adviser failed to adopt and implement P&Ps reasonably designed to ensure that the performance was relevant to the likely financial ...

This matter involves failures by MRA to comply with the Amended Marketing Rule

Because the hypothetical performance ad would be available to mass audiences, an adviser generally could not form any expectations about their financial situation or investment ...

We believe that advisers generally would not be able to include hypothetical performance in advertisements directed to a mass audience or intended for general circulation

Banorte advertised hypothetical performance on its public website without adopting and implementing policies and procedures reasonably designed to ensure that the hypothetical performance was relevant ...

YieldStreet later determined that the Borrower had stolen the deconstruction proceeds for several ships, including the ship securing the loan in the Vessel Deconstruction VI ...

The adviser failed to distribute required audited financials

The audits were completed pursuant to the International Standards on Auditing, not U.S. GAAS requirements; and the auditor was not registered with the PCAOB, resulting ...

The adviser purported to rely on the exception to the qualified custodian requirement but did not obtain an audit of each of the Funds and ...

The firm also did not properly describe the status of its fund’s financial statement audits when filing its Forms ADV and did not update certain ...