The U.S. Securities and Exchange Commission (SEC) has announced charges against capital management firm Titan Global Capital Management for making misleading disclosures about compliance failures for clients’ crypto assets.
Additionally, the SEC alleges that the company “disclosed conflicting information to customers regarding how Tita custody crypto assets.”
It also failed to adopt policies and procedures centered on employees’ personal cryptocurrency transactions.
Titan agreed to a cease and desist order and censure, and will pay more than $1 million, including a civil penalty of $850,000 and prejudgment interest of more than $190,000.
The violations occurred between August 2021 and October 2022, and Titan did not admit or deny the SEC’s allegations.