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In the Matter of Delphia USA Inc

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Case Information
Case name In the Matter of Delphia (USA) Inc.[1]
Court U.S. Securities and Exchange Commission[1]
Docket 3-21894; Advisers Act Release 6573[1]
Filed March 18, 2024[1]
Judge(s) Not identified in the sources reviewed.
Plaintiffs Securities and Exchange Commission[1]
Defendants Delphia (USA) Inc.[1]
Case type Civil consumer protection proceeding[1]
Claims / issues Investment Advisers Act; misleading AI marketing[1]
Status Settled: March 18, 2024 cease-and-desist order, censure and $225,000 civil penalty.[1]

In the Matter of Delphia (USA) Inc. is a settled SEC administrative enforcement proceeding over misleading AI representations.[1]

Claims and procedural history

The SEC found that the adviser claimed it used clients’ spending and social-media data in AI-driven investment advice although that data was not used in its investment process.[1]

The respondent consented without admitting or denying the findings, apart from jurisdiction, to censure, a cease-and-desist order and a $225,000 penalty.[1]

References

  1. ↑ 1.00 1.01 1.02 1.03 1.04 1.05 1.06 1.07 1.08 1.09 1.10 1.11 SEC settled order, March 18, 2024
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