- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-09-13T15:56:00
Yieldstreet and its investment adviser affiliate Yieldstreet Management agreed to pay more than $1.9 million as part of a settlement with the Securities and Exchange Commission (SEC) addressing allegations the firm did not disclose heightened risks regarding a $14.5 million asset-backed securities offering.
Yieldstreet, which is based in New York, was fined $1 million, in addition to agreeing to pay nearly $900,000 in disgorgement and approximately $50,000 in prejudgment interest. The SEC said in its order the disgorgement total would be offset by about $600,000 related to actions the firm will undertake to forego collection of a fee receivable.
In September 2019, Yieldstreet offered securities to finance the deconstruction of retired ships.
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