SEC Charges Nine Investment Advisers for Marketing Rule Violations, Imposes Fines

The Securities and Exchange Commission (SEC) has charged nine registered investment advisers for advertising hypothetical performance on their websites without implementing the required policies and procedures under the Marketing Rule. The charged firms, including Banorte Asset Management and Macroclimate LLC, have agreed to settle the charges and pay a combined total of $850,000 in penalties. Hypothetical performance advertisements pose a risk to investors whose financial situation and objectives may not align with the advertised investment strategy. The SEC emphasizes the importance of compliance with the Marketing Rule and will continue its investigation into potential violations.