- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2023-08-22T20:10:00
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.
The agency also charged Titan with multiple compliance failures that led to misleading disclosures about custody of crypto assets, improper use of hedge clauses, unauthorized use of client signatures, and failing to adopt an employee policy for trading crypto assets.
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Nine investment advisers agreed to pay a total of $850,000 in penalties across separate settlements with the Securities and Exchange Commission addressing alleged violations of the agency’s amended marketing rule.
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