Tr?id=566623520170033&ev=PageView&noscript=1

ÍøÆØ³Ô¹Ï

SEC Fines Five Investment Advisory Firms for Marketing Rule Violations

Posted on May 24th, 2024 at 2:16 PM
SEC Fines Five Investment Advisory Firms for Marketing Rule Violations

From the desk of Jim Eccleston at ÍøÆØ³Ô¹Ï

The Securities and Exchange Commission (SEC) has taken action against five registered investment advisory (RIA) firms for breaching its updated marketing rule, resulting in a combined penalty of $200,000, as disclosed in a recent announcement.

According to AdvisorHub, the five RIAs implicated are GeaSphere LLC, Bradesco Global Advisors Inc., Credicorp Capital Advisors LLC, InSight Securities Inc., and Monex Asset Management Inc.

The firms advertised hypothetical performance figures on their websites without ensuring that such data aligned with their clients' or prospects' financial situations and investment objectives, thereby violating the Investment Advisers Act of 1940, as per the SEC. All five firms agreed to the censure, monetary penalties, and a cease and desist order without admitting or denying the SEC's findings.

This enforcement action comes after a series of SEC warnings and compliance deadlines regarding the marketing rule, indicating the regulator's heightened scrutiny.

 

ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law, sec

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

Thank you for your professional assistance with this matter. You are very good at what you do.

John T.

LATEST NEWS AND ARTICLES

1778171646 Law
May 7, 2026
FINRA Bars Former Raymond James Broker for Refusing Testimony in Unauthorized Trading Probe

A former registered representative with Raymond James has been barred from the securities industry after refusing to cooperate with a Financial Industry Regulatory Authority (FINRA) investigation into alleged unauthorized trading activity.

1778084309 Law
May 6, 2026
FINRA Outlines Key Rulemaking Priorities and Recent Developments in Quarterly Agenda

The Financial Industry Regulatory Authority (FINRA) recently released its Quarterly Regulatory Policy Agenda, offering a detailed view of its rulemaking priorities, pending proposals, and recently approved regulatory changes.

1778000603 Law
May 5, 2026
Commonwealth Financial Network Resolves SEC Conflict of Interest Case

Commonwealth Financial Network has agreed to pay $5 million to resolve a long-standing conflict of interest case brought by the Securities and Exchange Commission, according to reporting by ThinkAdvisor.