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  • Sven December 2018
Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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SEC Charges Robo-Advisors With Fraud

TedTed
in Fund Discussions
FYI: In the first action of its kind, the Securities and Exchange Commission has charged two robo-advisors with fraud and misleading advertising, the SEC announced Friday.

Both robo-advisors, without admitting or denying the charges, have agreed to cease the activities that resulted in the SEC complaints. They are accused of making false statements about investment products and publishing misleading advertising.
Regards,
Ted
https://www.fa-mag.com/news/sec-charges-first-robo-advisors-with-fraud-42483.html?print

Comments

  • Sven
    One would expect the internal auditing would uncover these shady accounting practices long before they are uncovered (their clients who filed the SEC complaints).
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