The Securities and Exchange Commission recently updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 35 soliciting entities, four impersonators of genuine firms and four bogus regulators.
The firms that SEC staff found were providing inaccurate information about their affiliation, location or registration.
Under U.S. securities laws, firms that solicit investors generally are required to register with the SEC and meet minimum financial standards, as well as disclosure, reporting and recordkeeping requirements.
The updated Public Alert: Unregistered Soliciting Entities (PAUSE) list, which is the SEC's list of soliciting entities that have been the subject of investor complaints, includes 35 soliciting agencies, four "spoofer" firms and four fake regulators.
The fake regulators include US Financial Regulators in Washington, and Financial Regulatory Authority in Vienna, Virginia.
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 PAUSE list is periodically updated by the SEC's Office of Market Intelligence, in coordination with the Office of Investor Education and Advocacy and the Office of International Affairs.
The list was last updated in December and included 82 new firms providing inaccurate information, as well as eight "spoofer" firms and a fake regulator.
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