The Securities and Exchange Commission updated Monday its list of fake firms, unregistered businesses hawking investment deals and bogus regulators following a similar alert in November.
Included in the fresh list are 11 firms; four fake versions of real firms, some using Manhattan addresses; and nine fictitious regulators, such as a nonexistent “Federal Regulatory Board.”
The list of bogus or misleading entities have come to the agency’s attention through investor or foreign securities regulatory complaints and is known as the “Public Alert: Unregistered Soliciting Entities (PAUSE) list.”
It contains the names of scores of entities, listed alphabetically, amassed over time.
Some of the entities claim to offer SEC-endorsed investments, but are not even registered, according to the agency, which warned investors that federal government agencies don’t endorse securities, issuers, products, professional credentials, firms or individuals.
The soliciting entities are not even registered in the U.S. in many cases, the SEC warned.
The goal in publishing the list is to inform investors before they part with their money.