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Violation Tracker Individual Record

Company: Rimar Capital USA, Inc. et al.
Penalty: $310,000
Year: 2024
Date: October 10, 2024
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: The Securities and Exchange Commission announced charges against Rimar Capital USA, Inc., Rimar Capital, LLC, Itai Liptz, and Clifford Boro for making false and misleading statements about Rimar LLC's purported use of artificial intelligence, or AI, to perform automated trading for client accounts and numerous other material misrepresentations. The parties agreed to settle the SEC's charges and pay $310,000 in total civil penalties.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
Source of Data: (click here)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.