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On April 9, 2021, the SEC’s Division of Examinations (“EXAMS”) published a Risk Alert summarizing its observations from recent examinations of investment advisers, registered investment companies, and private funds engaged in ESG investing.[1] The Risk Alert is the latest in a series of announcements from the regulator that demonstrate its focus on investor protection in connection with climate and ESG investing.
On March 4, 2021, the SEC announced the launch of the Climate and ESG Task Force within the Division of Enforcement. The task force is led by Kelly L. Gibson, Acting Deputy Director of Enforcement, and is comprised of 22 members from the Enforcement Division’s specialized units, the SEC’s headquarters, and its regional offices.
SEC Cracking Down: 28 Companies Flagged For Unlicensed Activity
Last Updated: 27 January 2021
The US Securities and Exchange Commission, or SEC, has recently announced that it has flagged a total of 28 companies. The regulator accuses these companies of illegal solicitation of investors without the possession of the registrations required for it. A total of 8 of these 28 companies have been offering digital currency services, as well.
Eight Flagged Firms Doing Business In Crypto
The regulator had revealed through its press release that three of these firms have also been flagged for impersonating genuine firms. A total of six of these flagged companies have allegedly served as fake regulators, as well. In the release, the SEC stated that these firms have all been primarily targeting non-US investors, doing so through the use of misleading information.
from the Securities and Exchange CommissionThe Securities and Exchange Commission updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 28 soliciting entities, three impersonators of genuine firms, and six bogus regulators.
<p><span>The Securities and Exchange Commission today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 28 soliciting entities, three impersonators of genuine firms, and six bogus regulators.</span></p>
FOR IMMEDIATE RELEASE Washington D.C., Jan. 21, 2021
The Securities and Exchange Commission today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 28 soliciting entities, three impersonators of genuine firms, and six bogus regulators.
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 a victim 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.