Seeing an investment firm listed in a government database sounds like pretty convincing proof that your money is going somewhere legitimate. Unfortunately, the Securities and Exchange Commission just accused 38 entities of exploiting that assumption by putting allegedly false information into SEC filings to make themselves appear credible to American investors.
The SEC says the entities filed Forms ADV between 2025 and 2026 containing misrepresentations, including Colorado business addresses where they allegedly had no presence and phone numbers that were disconnected or belonged to unrelated businesses. Some were also promoted on websites displaying fake certificates claiming they were registered with the SEC when they weren’t. The case is an important reminder that checking an investment firm requires more than finding a professional-looking website or even seeing the firm’s name attached to an SEC filing. Here are seven ways you can verify how legit the investment firm you are speaking to is.
