Not really. This has more to do with the fact that whatever you state you do as part of your service, you should comply with actually doing. If Wealthfront said

Not really. This has more to do with the fact that whatever you state you do as part of your service, you should comply with actually doing. If Wealthfront said “from time to time...we monitor...” it may have been ok. Wealthfront’s testimonials were second to none, and largely against what would typically be allowed so it seems like Wealthfront escaped pretty lightly versus alternative punishments the SEC has used in other cases.