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Without admitting or denying the findings, Wealthfront agreed to pay a $250,000 penalty. Hedgeable agreed to an $80,000 penalty, also without admitting or denying the agency’s findings.

(Bloomberg) –The U.S. Securities and Exchange Commission filed its first-ever enforcement actions against robo-advisers, accusing Wealthfront Advisers and another firm of making false statements about investment products and publishing misleading advertisements.

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