Kim Kardashian slapped with a $1.3M fine

Kim Kardashian is obliged to pay a sum of 1.26 million dollars to the Securities and Exchange Commission, a U.S. federal agency aimed at regulating and monitoring financial markets.

Kardashian allegedly forgot to mention to her subscribers that she was paid $250,000 to promote EMAX tokens, a crypto company, reports TMZ.

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Here’s what SEC Chairman Gary Glenser had to say about Kim’s oversight:

“Ms. Kardashian’s case also serves as a reminder to celebrities and others that they are required by law to disclose to the public when and how much they are being paid to promote investment in securities (…) Investors have a right to know whether the advertising of a security is unbiased, and Ms. Kardashian failed to disclose that information.”

An oversight that would be expensive for mere mortals, but we’re guessing not so much for Kim.