According to the SEC: "From December 2010 through October 2013, in certain client presentations, marketing materials, and other communications, Ameriprise negligently relied on misrepresentations made by F-Squared and falsely stated that: (a) the AlphaSector strategies had a history that dated back to April 2001 and had been in use since then; and (b) the track record had significantly outperformed the S&P 500 Index from April 2001 to September 2008. In fact, no F-Squared or other client assets had tracked the strategy from April 2001 through September 2008. In addition, F-Squared miscalculated the historical performance of AlphaSector from April 2001 to September 2008 by incorrectly implementing signals in advance of when such signals actually could have occurred. As a result of this inaccurate compilation of historical data by F-Squared, Ameriprise advertised the AlphaSector strategies by using hypothetical and back- tested historical performance that was inflated substantially over what performance would have been if F-Squared had applied the signals accurately."