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SEC: 38 Entities Feigned Legitimacy as U.S. Advisers Through False Filings to Lure Retail Investors

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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…

Source：SEC Press Releases

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Source：https://www.sec.gov/newsroom/press-releases/2026-78-sec-38-entities-feigned-legitimacy-us-advisers-through-false-filings-lure-retail-investors