The Securities and Exchange Commission (SEC) has brought charges against fintech investment advisor Titan Global Capital Management USA for deceptive advertising related to performance metrics. This marks the first case under the SEC’s revised marketing rule. Without admitting or denying the findings, Titan has agreed to pay over $1 million to settle the charges.
Between August 2021 and October 2022, Titan, which offers complex strategies to retail investors through its mobile app, allegedly made misleading statements on its website about hypothetical performance. This included advertising “annualized” performance results of up to 2,700% for its crypto strategy. The SEC contends that these ads omitted essential information, such as the assumption that the strategy’s initial three-week performance would persist for a full year.
Furthermore, the order found that Titan provided conflicting information to clients regarding how it custodied crypto assets.
By FCCT Editorial Team
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