SEC: 38 Entities Feigned Legitimacy as U.S. Advisers Through False Filings to Lure Retail Investors
August 28, 2026
August 28, 2026
WASHINGTON, Aug. 28 -- The Securities and Exchange Commission issued the following litigation release:
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The Securities and Exchange Commission today charged 38 entities alleging that they made material misrepresentations in Forms ADV filed with the Commission between 2025 and 2026 to falsely portray themselves as legitimate advisory firms to U.S. investors. The complaints also allege that the defendants, a number of whom used IP addresses that were tracked to forei . . .
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The Securities and Exchange Commission today charged 38 entities alleging that they made material misrepresentations in Forms ADV filed with the Commission between 2025 and 2026 to falsely portray themselves as legitimate advisory firms to U.S. investors. The complaints also allege that the defendants, a number of whom used IP addresses that were tracked to forei . . .