Titan Global Capital Management to pay $1m to those it advised without admitting fault
A New York fintech biz is set to pay $1 million in fines under a US Securities and Exchange Commission order that claims it advertised"annualized" returns on Titan Crypto of up to 2,700 percent, a number based on a"purely hypothetical account."
According to the Wall St watchdog, Titan neglected to tell its retail investors that the"2,700 percent" returns were extrapolated from a hypothetical period of just three weeks during which no actual trading occurred.
A hedge clause is a liability disclaimer, and this particular one included the wording:"[Client] will defend, indemnify and hold [Titan] harmless from any and all Losses sustained by [Titan] arising out of or in connection with any breach of this agreement by Client... Titan and its Indemnified Persons will not be liable for any indirect, special, incidental, non-compensatory, punitive or consequential damages or other losses .
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