The Securities and Exchange Commission on Wednesday updated its list of fake firms and regulators in another warning to investors, following a similar alert in August.
Included in the list are eight more bogus regulators, four impersonators or “spoofers” of real firms and 16 soliciting entities.
For example, one Cornerstone Financial Services with an address in New York and Chicago is actually an impersonator of a genuine entity that has the real name based in Indiana, according to the SEC list.
In some cases, as in Global Growth Acquisition Corp., the imposter company gives the same address as the genuine company, which is in the Edgar database with its registration information.
One unregistered solicited entity, Alderbrook Capital Management, gives an address in the Trump Building on 40 Wall Street in Manhattan.
And don’t be fooled by any guidance from the so-called Federal Security Trading Regulatory Board in Lincoln, Nebraska, according to the list. It is one of the fake regulators created online as is the International Financial Market Regulatory Agency.
The U.S. Securities Registration Oversight Commission claims it is a Washington, D.C., regulator that maintains a list of alleged suspended trading firms and alleged administrative proceedings.