F-Squared Investments, a money adviser located on William Street in Wellesley, has been hit with a $35 million fine by the Securities & Exchange Commission for making false performance claims for years about its main offering and has been forced to fess up to the wrongdoing. The company’s co-founder and ex-CEO has been charged separately for making false claims.
The SEC describes F-Squared as being the largest marketer of index products using exchange-traded funds (EFT).
So, the company still kicking (Fortune magazine says F-Squared’s assets are worth some $28B) and has a video message on its website from its current leader ensuring everyone that the firm has cleaned up its act.