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Cash Solicitation Rule

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We have previously reported on U.S. Securities and Exchange Commission cases against influencers for violating the anti-touting statute. On August 22, 2023, the SEC announced settled charges against Washington, D.C.-based investment adviser Fundrise Advisors, LLC arising from the firm’s solicitation arrangements with online content creators. The following information is taken from the Order. Fundrise has been registered with the SEC as an investment adviser since September 25, 2014 and, as of March 31, 2023, reported…