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Violation Tracker Individual Record

Company: Wahed Invest, LLC
Penalty: $250,000
Year: 2024
Date: November 1, 2024
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: The Securities and Exchange Commission announced settled charges against Wahed Invest, LLC, a registered investment adviser based in New York City for violating the Marketing Rule. The order found that Wahed disseminated advertisements containing paid endorsements from professional athletes that lacked required disclosures and advertised hypothetical performance to the general public on its website without adopting and implementing required policies and procedures.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.