On February 24th, the SEC updated its Public Alert: Unregistered Soliciting Entities (PAUSE) list, which contains entities that have been subject of investor complaints. This list of entities falsely claim to be registered, licensed, and/or located in the United States, impersonate genuine registered securities firms, and claim to be fictitious regulators, government agencies, or organizations. The goal of the PAUSE list is to better inform investors so that they can avoid becoming the victim of fraud.
Thursday, February 27. 2020
SEC Updates PAUSE List of Firms Using Inaccurate Information to Solicit Investors
The SEC has added twenty-five soliciting entities and four fictitious regulators to the PAUSE list. These entries are firms the SEC staff found to be providing incorrect information about their affiliation, location, or registration, primarily to solicit non-US investors. Firms that solicit investors are generally required to register with the SEC under US securities laws and meet minimum financial standards and disclosure. The PAUSE list also flags those impersonating registered securities firms and governmental regulators. Inclusion on the PAUSE list does not mean the SEC has found violations of US federal securities laws or judged the merits of any securities being offered.
In addition, the PAUSE website has been updated to provide a more streamlined and user-friendly interface with revised descriptions, relevant educational material, and new search capabilities. The new layout also allows investors using internet search engines to find the Public Alerts easily.
The PAUSE list is periodically updated by the Office of Market Intelligence with the Office of Investor Education and the Office of International Affairs.
Sources:
SEC Updates List of Firms Using Inaccurate Information to Solicit Investors (www.sec.gov)
Public Alert: Unregistered Soliciting Entities (PAUSE) (www.sec.gov)
Public Alert: Unregistered Soliciting Entities (PAUSE) - Latest Updates (www.sec.gov)
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