The Securities and Exchange Commission (SEC) today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 14 soliciting entities, two impersonators of genuine firms, and four bogus regulators.
The latest additions to the list of “Soliciting Entities” include:
- AbitoTrade Ltd
- Binary Trade Elite
- Capital Gold Asset
- Forex5
- GemFxPro Ltd.
- Global BloomFx
- GOSB Global Company
- IA-Digital Markets
- Medieval Credit Bank
- Remy & Associates LLP
- Strenfield Capital
- Trade Xtix Coins
- TradeHedgely
- Yearn Stocker
Additions to “Impersonators of Genuine Firms or Spoofers”:
- BFS Investments
- Google Trade
Additions to the list of “Fake Regulators”:
- Department of Financial Transactions
- Department of International Equities
- Fraud Investigation and Repatriation Authority
- United States Corporate Records Department
The SEC’s list of soliciting entities that have been the subject of investor complaints, known as the Public Alert: Unregistered Soliciting Entities (PAUSE) list, enables investors to better inform themselves and avoid being victims of fraud. The latest additions are 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 and disclosure, reporting, and recordkeeping requirements.
In addition to alerting investors to firms falsely claiming to be registered, the PAUSE list flags firms that are impersonating registered securities firms and entities that falsely claim to be government regulators, 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 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.
