US SEC issues warning list of fake investment firms
Tue Apr 15, 2008 1:53pm EDT
WASHINGTON, April 15 (Reuters) - The U.S. Securities and Exchange Commission said on Tuesday it launched a crackdown on online boiler rooms and other suspicious investment solicitations that may be trying to bilk investors.
Consumers who are weighing a possible investment should first check a new SEC website that lists solicitations made by entities that have made phony claims of being affiliated with established broker firms or registered with the SEC, the agency said.
Some also boast false U.S. addresses or endorsements from make-believe government agencies, the SEC said.
The new list initially included 56 firms and will be updated regularly.
"Anyone thinking about investing online needs this in their tool kit," said SEC Chairman Christopher Cox in a statement. "By arming investors with this online resource, we're making it increasingly difficult for swindlers to succeed with their illegal activities."
In general, U.S. firms that solicit consumers for the purchase or sale of securities are required to register with the SEC.
The new list was compiled from investor complaints and from foreign regulators, the agency said.
"These schemes, which often purport to be legitimate entities located in the U.S., have been mercilessly targeting UK investors, particularly our vulnerable senior citizens, with assurances about bogus opportunities to invest in the U.S. market," Steve Wilmott, head of the London police department's economic crime unit, said in the statement.
The SEC said that for each entity on its new list, agency staff found there was no U.S.-registered securities firm with that name, or it falsely claimed an affiliation with an established firm.
The SEC warning list was posted on the Internet at: here. (Reporting by Karey Wutkowski; Editing by Andre Grenon)
sec.gov
Public Alert: Unregistered Soliciting Entities (PAUSE)
List of Unregistered Soliciting Entities That Have Been the Subject of Investor Complaints
The SEC receives complaints from investors and others, including foreign securities regulators, about securities solicitations made by entities that claim to be registered, licensed and/or located in the United States in their solicitation of non-US investors, and entities not registered in the United States that are soliciting US investors. In some cases, the complaints are about entities claiming to offer investments endorsed by governmental agencies, including the SEC. These claims are important because when an entity claims to be registered with the SEC, it is in effect claiming that it has made itself available for SEC regulation and oversight. Generally, US entities that solicit you to purchase or sell securities for your own account are required to register with the SEC. For this reason, it is important for you to consider whether the entity that solicits you is, in fact, registered with the SEC.
The SEC has looked into these complaints and has learned that in many cases, the soliciting entities are not registered in the United States as they claim or imply. In an effort to warn the public about these entities, the SEC is publishing information it has learned in reviewing these complaints
For each of the entities named below, our staff has determined either (1) that there is no US registered securities firm with this name, or (2) that there is a US registered securities firm with the same (or a similar) name but that solicitations appear to have been made by persons who are not affiliated with the US registered securities firm.
In addition, the "Comments" section for each entity provides additional relevant information we have learned, by answering the following questions:
Is the entity registered in the United States?
Is the entity using a name that is the same as, or similar to, the name of a US registered securities firm notwithstanding the fact that the soliciting persons are not affiliated with a US registered securities firm? FINRA (formerly, the "NASD") maintains a public registry of its broker-dealer members and their sales personnel. Using this website, you can verify both the registration and address of any FINRA-registered US broker-dealer and any individual US securities broker. Checking PAUSE is not a substitute for checking the public registry. Here is the link to that registry: nasd.com
ChecktheBackgroundofYourInvestmentProfessional/index.htm
Does the entity claim an endorsement, approval or other support by a governmental agency or international organization that does not exist or does not really lend support to the entity or the investments it is offering? For a list of fictitious governmental agencies and international organizations that are referenced in investor complaints, [click here]. As reflected in the SEC's investor alert entitled, "Fake Seals and Phony Numbers: How Fraudsters Try to Look Legit," the SEC does not "approve" or "endorse" any particular securities, issuers, products, services, professional credentials, firms, or individuals, and does not allow private entities to use its government seal. Here is the link to the SEC investor alert: sec.gov.
The SEC will regularly update this list.
You should be aware that this list does not include all unregistered entities or entities that have been the subject of complaints received by the SEC. Also, you should understand that the inclusion of a name on this list does not mean that the SEC has concluded that a violation of the US securities laws has occurred or that the SEC has made any judgment about the merits of the securities being offered by these entities.
To see the official SEC release describing and providing more details about this list, [click here]. If you have information, questions or comments about the entities on this list, please contact oiea@sec.gov or call 202-551-6551.
Name Comment
Allen Brothers M&A
2733 Vine St.
Cincinnati, OH 45219
Phone: 513-488-0508
Fax: 513-488-0509
No US registered securities firm with this name.
Bainbridge Management
999 3rd Avenue
Suite 3800
Seattle, Washington 98101/98104
Phone: 206-774-1943
Fax: 206-374-3024
No US registered securities firm with this name.
Beacon Global Management, Inc.
Tower Executive Suites
10940 Wilshire Blvd., Suite 1500
Los Angeles, CA 90024
Phone: 866-365-0738
Fax: 213-947-4787
No US registered securities firm with this name.
Belmont Shaw and Associates Mergers and Acquisitions
80 N. 3rd Avenue
Phoenix, AZ 85003
Phone: 623-707-8676
Fax: 623-707-8677
No US registered securities firm with this name.
An onsite inspection conducted on May 1, 2007 by the State of Arizona Corporation Commission found that the address given for this entity does not exist.
Claims to be endorsed by, or makes other reference in its solicitations to, the International Compliance Assistance Center, an alleged claim-filing and fund recovery service provider for commercial and securities class-action settlements. This entity is believed to be fictitious.
Berger Aron Macey
1240 Peachtree Street NE, Suite 2700
Atlanta, GA 30309
Phone: 404-592-5106
Fax: 404-795-0613
No US registered securities firm with this name.
Bremer Financial Ltd.
Howard Hughes Center
6601 Center Drive, Suite 500
Los Angeles, CA 90045
Phone: 213-403-0107
Fax: 213-403-0109
No US registered securities firm with this name.
Cameron McDonald & Co.
625 4th Ave. S.
Minneapolis, MN 55415
Phone: 612-234-4048
Fax: 612-234-4049
No US registered securities firm with this name.
Capital One Management Inc.
Maine Business Center
415 Congress Street, Suite 102
Portland, ME 04101
Phone: 212-330-9008
Fax: 212-330-9009
No US registered securities firm with this name.
Century Management Division, Inc.
23351 Ford Rd.
Dearborn, MI 48128
Phone: 313-447-4477
Fax: 313-447-4477
No US registered securities firm with this name.
Charlton Hayfield and Company
30 E. Broad St.
Columbus, OH 43215
Phone: 614-947-0111
Fax: 614-947-0102
No US registered securities firm with this name.
City Capital Mergers & Acquisitions
6990 W. Cedar Ave.
Lakewood, CO 80226
Phone: 303-353-0736
Fax: 303-353-0737
No US registered securities firm with this name.
Coleman Brothers
1800 Grant Street
Denver, CO 80203
Phone: 303-952-5896
Fax: 303-952-5801, 303-952-5901
No US registered securities firm with this name.
Claims to be endorsed by, or makes other reference in its solicitations to, the Securities Compliance Agency, an alleged claim-filing and fund recovery service provider for commercial and securities class-action settlements. This entity is believed to be fictitious.
Collett Quinlan M&A
50 Hurt Plaza, SE
Atlanta, GA 30303
Phone: 404-671-8082
Fax: 404-671-8083
No US registered securities firm with this name.
The Equity Exchange Group Portfolio Management (Limited)
1 Federal Street, Floor 28
Boston, MA 02108
Phone: 617-499-4856
Fax: 617-499-4857
No US registered securities firm with this name.
Ferguson Hathaway Consulting, Ltd./FH Consulting
2101 Wall Street Center
14 Wall Street
New York, NY 10005
Phone: 212-461-1487
Fax: 646-224-8941
No US registered securities firm with this name.
FinAllianz
W. 50th St., Rockefeller Plaza
New York, NY 10019
Phone: 646-810-6182
Fax: 484-993-3822
No US registered securities firm with this name.
First Liberty Transfer Agency, LLC
1101 Pennsylvania Avenue
Washington, DC 20004
Phone: 202-449-9593
Fax: 202-379-9299
No US registered securities firm with this name.
Global Direct Financial Inc.
Aura Executive Center
695 Central Avenue, Suite 110
St. Petersburg, FL 33701
Phone: 786-228-4959
Head Office
93 Pearl Street
New York, NY 10004
Phone: 212-465-3259
No US registered securities firm with this name.
Golden Medallion Trading
Stanford Corporate Center
14001 N. Dallas Parkway, Suite 1400
Dallas, TX 75240
Phone: 866-296-7051
Fax: 817-977-5237
No US registered securities firm with this name.
Grant Group LLC
1120 Broadway, 22nd Floor
New York, NY 10010
Phone: 646-224-8723
Fax: 646-224-8724
No US registered securities firm with this name.
Griffin Mergers and Acquisitions
8th Street and Nicollet Mall, Downtown
Minneapolis, MN 55402-8773
Phone: 612-284-2417
Fax: 612-677-3711
No US registered securities firm with this name.
Hopewood and Company
413 4th Ave. S.
Columbus, MS 39701
Phone: 662-913-0603
Fax: 662-913-0604
No US registered securities firm with this name.
Howell and Johnson Associates
1422 Euclid Ave.
Cleveland, OH 44115
Phone: 216-744-1026
Fax: 216-744-1027
No US registered securities firm with this name.
Website shows different phone numbers, with Atlanta area codes, from those used in solicitation materials.
Imperial Quest Ventures, Ltd.
The Hancock Center
875 N Michigan Avenue, Suite 2600
Chicago, IL 60611
Phone: 866-365-3685
Fax: 312-205-6421, 312-277-3321
No US registered securities firm with this name.
Claims to be recognized by the SEC and the U.S. Federal Trade Commission. Neither the SEC nor the Federal Trade Commission has endorsed this entity.
J. Rowan Associates
230 Peachtree St.
NW Atlanta, GA 30303
Phone: 678-954-0520
Fax: 678 954 0521
No US registered securities firm with this name.
Kennedy, Anderson & Lang
60 E. 42nd St., Suite 1516
New York, NY 10165
Phone: 646-290-8536
Fax: 646-290-8922
Website (now offline): kal-ny.com
No US registered securities firm with this name.
Kobe Asset Management
One Oxford Centre, 301 Grant Street, Suite 2100
Pittsburgh, PA 15219
Phone: 412-235-0107
Fax: 412-202-0736
No US registered securities firm with this name.
Landmark M&A, Inc.
445 Park Avenue
New York, NY 10022
Phone: 646-530-8783
Fax: 646-417-7996
No US registered securities firm with this name.
Lindenberg Asset Management
One Market Street, Spear Tower, 33th Floor
San Francisco, CA 94105
Phone: 415-373-5248
Fax: 415-276-6023
No US registered securities firm with this name.
Lloyd Brown Investments, Inc.
Hancock Center
875 N. Michigan Ave., Suite 3100
Chicago, IL 60611
Phone: 312-416-0876
Fax: 312-416-0877
No US registered securities firm with this name.
Maitland Bell & Co.
2201 E. Camelback Rd.
Phoenix, AZ 85016
Phone: 602-926-1314
Fax: 602-926-1315
No US registered securities firm with this name.
Miller & Ross
Lexington Avenue, Manhattan-Midtown
Turtle Bay, NY 10107
Fax: 646-478-9513
No US registered securities firm with this name.
Universal Partners Mergers & Acquisitions
300 Main Street
Lafayette, IN 47901
Phone: 765-637-0102
Fax: 765-637-0103
No US registered securities firm with this name.
Claims to be endorsed by, or makes other reference in its solicitations to, the Regulatory Advisory Commission, an alleged claim-filing and fund recovery service provider for commercial and securities class-action settlements. This entity is believed to be fictitious.
Warren Sitco & Company
919 North Market Street
Wilmington, DE 19801
Phone: 302-391-0803
Fax: 302-391-0804
No US registered securities firm with this name.
Claims to be endorsed by, or makes other reference in its solicitations to, the Securities Compliance Agency, an alleged claim-filing and fund recovery service for commercial and securities class-action settlements. This entity is believed to be fictitious.
Wellington Mergers and Acquisitions
3340 Peachtree Road NE, Buckhead Area
Atlanta, GA 30326-1081
Phone: 404-592-4540
Fax: 404-759-2088
No US registered securities firm with this name.
Claims to be endorsed by, or makes other reference in its solicitations to, International Stock Regulators, an alleged claim-filing and fund recovery service for commercial and securities class-action settlements. This entity is believed to be fictitious.
Western Capital, Inc.
Empire State Building
350 5th Avenue, Suite 2108
New York, NY 10118
Phone 866-365-0736
Fax: 646-224-8765
No US registered securities firm with this name.
Wiess & Associates Ltd.
203 North LaSalle Center
Suite 1800
Chicago, IL 60601
Phone: 800-578-8365
Fax: 312-277-7553
No US registered securities firm with this name.
sec.gov
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sec.gov
Public Alert: Unregistered Soliciting Entities (PAUSE)
List of Fictitious Governmental Agencies and International Organizations Associated with Soliciting Entities
The SEC receives complaints from investors and others, including foreign securities regulators, about securities solicitations made by entities claiming to offer investments endorsed, approved, or otherwise supported by governmental agencies, including the SEC, or international organizations. As reflected in the SEC's investor alert entitled, "Fake Seals and Phony Numbers: How Fraudsters Try to Look Legit," the SEC does not "approve" or "endorse" any particular securities, issuers, products, services, professional credentials, firms, or individuals, and does not allow private entities to use its government seal. Here is the link to the SEC investor alert: sec.gov
The SEC has looked into these complaints and has learned that in many cases, the governmental agencies or international organizations claimed to have lent support to such investments do not exist. In an effort to warn the public about these entities, the SEC is posting the list below. The SEC will regularly update this list.
You should be aware that this list does not include all fictitious governmental agencies and international organizations. Also, you should understand that the inclusion of a name on this list does not mean that the SEC has concluded that a violation of the US securities laws has occurred or that the SEC has made any judgment about the merits of the securities being offered.
For a list of entities claiming to be registered, licensed and/or located in the United States and that have been the subject of investor complaints [click here] to access PAUSE. To see the official SEC release describing and providing more details about this list, [click here].
If you have information, questions or comments about the entities on this list, please contact oiea@sec.gov or call 202-551-6551.
Name Comment
The Center for Securities Department
1870 Twin Towers East
Martin Luther King Jr. Drive SW
Atlanta, GA 30334
Phone: 770-824-0505
Fax: 770-206-2394 and 770-872-5506
Center For Securities Investigation Department
324 W. Main St.
Brighton, MI 48116
Phone: 810-852-1701
Fax: 810-852-1702
Central Stock Regulators
3200 West End Avenue
Nashville, TN 37203
Phone: 615-349-9977
Fax: 615-250-4897
Global Compliance Agency
201 S. College St.
Charlotte, NC 28244
Phone: 704-817-0614
Fax: 704-817-0615
Global Investments Compliance Center
5005 Rockside Road
Independence, OH 44131
Phone: 216-220-1600
Fax: 216-220-1601
Global Securities Crime Investigators
7700 Queens Ferry Lane
Dallas, TX 75248
Global Securities Protection Agency
41 Marietta Street
Atlanta, GA 30303
Phone: 678-954-0522
Fax: 678-954-0523
International Association of Transfer Agents
30 Wall Street
New York, NY 10005
International Commission of Securities
600 Superior Avenue East
Fifth Third Building Suite 1300
Cleveland, OH 44114
Phone: 440-869-9952
Fax: 440-848-2305
Onsite inspections conducted over the past year by the Ohio Division of Securities found that no regulatory agency was located at the address given for this entity.
International Compliance Assistance Center
41 S. High St.
Columbus, OH 43215
Phone: 614-947 0105
Fax: 614-947 0106
International Equities Administrators
5865 Ridgeway Center Parkway, Suite 350
Memphis, TN 38120
Phone: 901-896-0327
Fax: 901-339-0522
International Fraud Assessment Agency
1001 Fourth Ave. Plaza
Seattle, WA 98154
Phone: 206-274-0077
Fax: 206-260-3086
International Securities Accreditation Authority
30 E. Broadway
Salt Lake City, UT 84111
Phone: 801-618-2100
Fax: 801-618-2119
International Securities Administrators
312 Walnut Street, Suite 1500
Cincinnati, OH 45202
Phone: 513-297-1593
Fax: 513-672-2308
International Securities Regulators
101 Federal Street
Boston, MA 02110
Phone: 617-861-9038
Fax: 617-507-1076
International Shareholders Compliance Department
500 N. Michigan Ave., Suite 320
Chicago, Il 60611
Phone: 312-281-0329
Fax: 312-276-4752
International Stock Regulators
2415 East Camelback Road
Phoenix, AZ 85016
Phone: 602-357-1678
Fax: 602-391-2036
Onsite inspections conducted April 30, 2007 by the State of Arizona Corporation Commission found that the purported regulatory agency was not located at the address given for this entity.
Regulatory Advisory Commission
350 S Main St
Ann Arbor, MI 48104
Phone: 734-619-0501
Fax: 734-619-0502
Securities Compliance Agency
212 S. Tryon Street
Charlotte, NC 28281
Phone: 704-817-0609
Fax: 704-817-0610
To view the SEC's Data Quality Guidelines, click [http://www.sec.gov/about/dataqualityguide.htm].
sec.gov
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