SEC Releases Updated List of Fake Regulators, Deceptive Firms
February 25, 2020 by Jeff Berman
The Securities and Exchange Commission on Monday updated its list of fictitious regulators and firms falsely claiming to be registered, licensed and/or located in the U.S., along with entities that impersonate actual U.S. registered securities companies.
Included in the fresh list are 25 new soliciting entities and four phony regulators: Board of Financial Affairs, Finance Regulation Board, New York Compliance Regulatory Board and US International Registry & Compliance Agency.
In comparison, last year’s updated list included 11 firms, four fake versions of real firms and nine fictitious regulators.
The entities on the updated list came to the SEC’s attention through investor complaints and is known as the Public Alert: Unregistered Soliciting Entities (PAUSE) list.
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