Titan Global Capital Management USA LLC (“Titan”) is making payments to affected clients as a result of a settlement with the U.S. Securities and Exchange Commission (the “SEC”).
On August 21, 2023, Titan announced a settlement with the SEC that primarily covers certain legacy marketing and disclosure issues involving Titan’s cryptocurrency strategy between June 1, 2021 and October 3, 2022. The SEC order states that Titan did not implement policies and procedures that were reasonably designed to comply with marketing regulations and made certain misleading representations. The settlement also covers policy and procedure issues, and a customer agreement issue.
A copy of the Order is posted on the SEC website here:
https://www.sec.gov/files/litigation/admin/2023/ia-6380.pdf
Titan is paying $1,050,052 to resolve the matter, which has been deposited into a “Fair Fund” to compensate affected clients. The SEC Order acknowledges Titan’s cooperation and remedial efforts since July 2022, including hiring a new Chief Legal and Chief Compliance Officer and additional legal and compliance staff. Titan continues to make significant investments to build and enhance its compliance program.
If you are an affected client and have an active Titan account, your payment will be deposited electronically into your Titan account. If you are an affected client and do not have an active Titan account, Titan will send you a check to your last known address.