SEC charges FinTech investment adviser Titan for misrepresenting hypothetical performance of investments (and other violations)

On August 21, 2023, the Securities and Exchange Commission (the “SEC”) announced the settlement of charges against Titan Global Capital Management USA LLC, a New York-based FinTech investment adviser (“Titan”), pursuant to Section 206(4)-1 (the “Marketing Rule”) under the U.S. Investment Advisers Act of 1940 (the “Advisers Act”).  Among other things, Titan was charged with marketing its Titan Crypto strategy using misleading hypothetical performance.  This case is the first reported by the SEC under the Marketing Rule, which became effective on May 4, 2021.