SEC Charges Five Investment Advisers for Marketing Rule Violations

The Securities and Exchange Commission today announced settled charges against five registered investment advisers for Marketing Rule violations. All five firms have agreed to settle the SEC’s charges and to pay $200,000 in combined penalties. The five advisory firms are: GeaSphere LLC Bradesco Global Advisors Inc. Credicorp Capital Advisors LLC InSight Securities Inc. Monex Asset Management Inc. The SEC’s orders found that the five firms advertised hypothetical performance to the general public on their websites without adopting and implementing policies and procedures reasonably designed to ensure that the hypothetical performance was relevant to the likely financial situation and investment objectives of each advertisement’s intended audience, as required by the Marketing Rule.