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December 01, 2021 at 02:18 PM
What You Need to Know
- The SEC updated its Public Alert: Unregistered Soliciting Entities list.
- The updated PAUSE list includes 82 new firms providing inaccurate information.
- The fake regulator is Global Fraud Prevention in San Francisco.
The Securities and Exchange Commission released Wednesday an updated list of firms providing inaccurate information about their affiliation, location or registration with the securities regulator, a list of fake firms impersonating genuine ones, and a fake regulator.
Under U.S. securities laws, firms that solicit investors generally are required to register with the SEC and meet minimum financial standards and disclosure, reporting and recordkeeping requirements.
The securities regulator’s Public Alert: Unregistered Soliciting Entities list also flags those impersonating registered securities firms and bogus “regulators” who falsely claim to be government agencies or affiliates.
Inclusion on the PAUSE list does not mean the SEC has found violations of U.S. federal securities laws or made a judgment about the merits of any securities being offered, the SEC explained.
