The FMA notes a recent warning by the USA regulator, SEC, about scams where the name of a real or fake Government agency or regulator is used to endorse the product/service being offered.
The SEC has received complaints about businesses claiming to offer investments endorsed, approved, or otherwise supported by government agencies. The SEC does not approve or endorse any particular securities, issuers, products, services, professional credentials, businesses, or individuals, and does not allow private businesses to use its government seal. The SEC's Office of Investor Education and Advocacy has issued several investor alerts warning investors of bogus regulators and SEC impersonators.
In many cases, the so-called governmental agencies or international organisations claimed to have lent support to these offers don’t exist.
The SEC’s list of fake regulators is available here.
The FMA has general information on how to avoid scams available here.
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