The U.S. Securities and Exchange Commission (SEC) recently announced that it has settled charges against investment adviser Fundrise over a solicitation arrangement with an online content creator。

From February 2016 to December 2021, Fundrise paid cash to more than 200 social media influencers and online newsletter publishers to solicit customers, according to the SEC.。

The charge contends that Fundrise did not ask the lawyer to provide the client with certain disclosures required by the cash solicitation payment rules in effect at the time, but only Fundrise's brochure and a separate written disclosure document describing the lawyer's relationship with Fundrise and the compensation agreement.。

Fundrise agreed to join the SEC's order, finding that the company knowingly violated the compliance and previous cash-raising provisions of Section 206 (4) of the Investment Advisers Act of 1940 and rules 206 (4) -3 and 206 (4) -7 thereunder。

Fundrise, without admitting or denying the findings, agreed to a stop order, reprimand and a $250,000 civil fine to settle the charges.。