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SEC’s Marketing Rule sweep hits nine IA firms with $1.2m in fines

A Gillette advertisement featuring English soccer star David Beckham on a billboard in Times Square, NYC.
Photo: Stephen Chernin/Getty Images

The sweep sent a warning to IA firms about the importance of accuracy in advertising industry awards and touting conflict free advice.

The SEC has issued another enforcement action that involves a sweep of multiple firms, this time focusing on nine investment advisers that it said violated the agency’s marketing rule.

In a statement Monday, the SEC announced it has settled charges against nine registered investment advisers that reportedly distributed advertisements containing untrue or