The Securities and Exchange Commission ("SEC") recently announced it had imposed monetary penalties on thirteen investment advisory firms.  The SEC concluded the thirteen firms failed to conduct due diligence to determine the veracity of false claims made by an investment management firm before the firms began recommending the investment to their own clients. The enforcement action concerned claims made by F-Squared Investments ("F-Squared").  F-Squared claimed its "AlphaSector" strategy for investing in exchange-traded funds ("ETF") had outperformed...