Van Eck to pay $1.75 million civil penalty to settle US charges -SEC

By Thomson Reuters Feb 16, 2024 | 8:39 AM

NEW YORK (Reuters) – Registered investment adviser Van Eck Associates Corporation has agreed to pay a $1.75 million penalty to settle U.S. Securities and Exchange Commission charges related to the launch of a new exchange-traded fund, the regulator said on Friday.

Van Eck failed to disclose a social media influencer’s role in the launch of its VanEckSocial Sentiment ETF in March 2021, the SEC said in a statement.

(Reporting by Chris Prentice)