SEC Updates Warning List, Adds 29 Unauthorized Firms

[kreslik.news]

The Securities and Exchange Commission (SEC) updated its warning list and added 29 unregistered firms that are primarily soliciting non-US investors earlier this week. Out of the 29 companies, 16 are soliciting entities, four are clone firms and 9 are bogus regulators.

In the US, financial firms that seek investors in the country to use their services are generally required to register with the SEC. To obtain a registration, companies must meet the minimal financial standards and disclosure, reporting and recordkeeping requirements.

The new additions have found their way onto the US regulator’s blacklist, otherwise known as PAUSE ... (read more)