On August 31st, the SEC revised its list of unregistered entities using misleading data to solicit primarily non-US investors. Twenty-three soliciting entities, eight impersonators of legitimate securities firms, and seven phony regulators have been added to the the Public Alert: Unregistered Soliciting Entities (PAUSE) list.
Thursday, September 03. 2020
SEC Updates List of Firms Using Inaccurate Information to Solicit Investors
The PAUSE list contains soliciting entities that have been the focus of investor grievances, including entities that falsely claim to be registered, licensed, and/or located in the US in their solicitation of investors. Firms that solicit investors are required by US securities laws to register with the SEC as well as meet minimum financial standards and disclosure, reporting, and recordkeeping requirements. The PAUSE list also flags those impersonating bogus regulators who claim to be government agencies, institutions, or affiliates.
The SEC’s Office of Market Intelligence, in coordination with the Office of Investor Education and Advocacy and the Office of International Affairs, will continue to update the PAUSE list regularly. The SEC reminds investors of the additional ways to protect themselves from fraud or misleading information:
- Broadly Advertised Investments – Investor Alert
- COVID-19 Related Early Withdrawals from Retirement Accounts – Be Careful of Fraudsters and Other Bad Actors Targeting Your Retirement Savings
- Frauds Targeting Main Street Investors – Investor Alert
Visit Investor.gov for tips on investing wisely and avoiding fraud.
Sources:
SEC Updates List of Firms Using Inaccurate Information to Solicit Investors (sec.gov)
PAUSE List – Latest Additions (sec.gov)
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