On Feb. 16, Financial Planning published a story regarding a settlement between the SEC and CMG Capital Management Group of Malvern, Pennsylvania relating to CMG’s use of data involving the hypothetical backtested performance of one of its algorithmic investment trading strategies. CMG agreed to the settlement, neither admitting nor denying the allegations. The story contained an error, which we are taking this occasion to further correct.
The story incorrectly reported that CMG’s use of backtested data had inflated the performance of one of its algorithmic trading strategies. Our reporting was not correct and related to a separate incident involving another company, which had nothing to do with CMG, and should not have been included in our story.
We sincerely regret this error. Financial Planning and all Arizent Publications strive for the utmost accuracy in our reporting and regret any and all errors. It is our policy to correct them as quickly as possible.