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Private Equity

Pehub Daily Wire 3/10/2017 7:50:04 Am

by links.e.learn.buyoutsnews.com posted 3weeks ago 28 views
Are you there, Hubsters? It's me, Luisa. It's day three of the government shutdown but we're working. Even though it's the holidays, we have some news this morning. On Friday, the SEC slapped two roboadvisers that are venture backed. Wealthfront was fined $250,000 for allegedly making false statements about a tax-loss harvesting strategy it offered to clients. Wealthfront supposedly told customers using its harvesting strategy that it would monitor all client accounts for any transactions that might trigger a wash sale. But it didn't do so, the SEC said. Wealthfront has raised $204.5 million in funding, according to Crunchbase.

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