SEC fines RIA and investment platform $250,000 for failing to disclose influencer deals

An RIA and investment platform that has made a splash on social media in recent years has run afoul of the Securities and Exchange Commission in its use of social media influencers to generate client referrals.

Fundrise, an online investing platform and RIA that allows clients to invest in real estate and venture capital, has agreed to pay a $250,000 penalty because it did not properly disclose the details of its relationships with influencers.

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