SEC Targets Unregistered Soliciting Firms, Adds 20 to Blacklist

On November 27th, the Securities and Exchange Commission (SEC) issued a press release updating its registry of unauthorized soliciting firms.

The U.S. Securities and Exchange Commission requires that all investment soliciting firms be registered with the agency and comply with specific financial and record-keeping regulations.

Twenty companies in total were added to the PAUSE (Public Alert: Unregistered Soliciting Entities) list, which includes 14 soliciting entities, 2 impersonator companies and 4 sham regulators.

The Securities and Exchange Commission strives to reduce the occurrence of scams and fraudulent activity by keeping investors well-informed.

The blacklisted companies include:

1. AbitoTrade Ltd
2. Binary Trade Elite
3. Capital Gold Asset 161 Allison Avenue
4. Forex5
5. GemFxPro Ltd.
6. Global BloomFx
7. GOSB Global Company
8. IA-Digital Markets 
9. Medieval Credit Bank
10. Remy & Associates LLP
11. Strenfield Capital
12. Trade Xtix Coins
13. TradeHedgely 
14. Yearn Stocker 

Impersonators:

1. BFS Investments
2. Google Trade 

Fake Regulators:

1. Department of Financial Transactions
2. Department of International Equities
3. Fraud Investigation and Repatriation Authority
4. United States Corporate Records Department 

The purpose of the PAUSE list is to enable investors to be informed on the regulatory status of soliciting companies. Although, it is worthy of note that inclusion on the PAUSE list is not confirmation of a violation of United States federal securities laws.

These companies were found to be giving inaccurate information about their location, affiliation or registration.

The SEC enjoins investors to be aware before making investment decisions and to take precautionary measures against scams and fraudsters.