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SEC Fines RIA Over Marketing Rule Violations
News December 23, 2024 at 01:37 PM
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What You Need To Know
- Atlas Financial Advisors was ordered to pay a $175,000 penalty.
- Atlas falsely said the hypothetical performance of its "Portfolio Shield" investment strategies was verified and validated by Morningstar, according to the regulator.
- Rather, the SEC says, an Atlas employee used Morningstar's software to calculate the hypothetical performance.
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