SEC Warns: Watch Out for Agency Imposters

Other ways to tell that someone is not a member of the SEC staff is that no legitimate SEC employee will call or email someone to:

• Seek assistance with a fund transfer;
• Forward investment offers to them;
• Advise individuals that they own certain securities;
• Tell investors that they are eligible to receive disbursements from an investor claims fund or class action settlement; or
• Offer grants or other financial assistance (especially for an upfront fee).

SEC staff also will not ask for detailed personal and financial information, such as shareholdings and PIN numbers, in unsolicited phone calls or emails.

The agency stressed that, if an individual is contacted by someone who claims to be from the SEC–or, for that matter, any other government agency–he or she should verify that person’s identity. The agency further advises people to use its personnel locator, (202) 551-6000, to verify whether the caller is an SEC staff member and to speak with him or her directly. Individuals can also ask whether the person calling is employed by the SEC, and request to speak with the staff member’s supervisor if there is such an employee. In addition, they can call the SEC at 800-SEC-0330 for general information.

Anyone who has been contacted by someone misrepresenting himself as an SEC staff member should either call to report it or submit a complaint form online. In addition, they may report it to the FBI.