Investor Newsletter
August 3, 2022
Investor Education
Military Consumer Month
July is recognized as Military Consumer Month, an annual observance to increase awareness of consumer protections and financial readiness for servicemembers, veterans and military families. Throughout July, the CFPB highlighted key financial topics within the military community and presented free, virtual events. Recordings of these events, as well as other related resources, are now available for on-demand viewing.
Customer Advisory: Eight Things You Should Know Before Trading Forex
The CFTC recently issued a Customer Advisory reminding the public to thoroughly research over-the-counter (OTC) foreign exchange (“forex”) dealers before making initial deposits or handing over sensitive personal information. The Advisory describes the unique risks associated with OTC forex trading and provides investors practical guidance on avoiding costly mistakes.
Information courtesy of the CFTC
Investor Protection
RED List: CFTC Adds More Unregistered Foreign Entities
The CFTC recently added another 34 unregistered foreign entities to its Registration Deficient List (RED List). The RED List identifies unregistered foreign entities the CFTC has reason to believe are illegally soliciting and/or accepting funds from U.S. residents. In a recent press release, the CFTC presented the newest additions to the RED List and offered resources to help investors avoid fraud
Investor Alert: Watch Out for Fake COVID-19 Claims When Investing
Since the beginning of the COVID-19 pandemic, the SEC has brought numerous enforcement actions against companies for making false and misleading claims about purported COVID-19-related products, including a mobile app for detection, medical and personal protective equipment (PPE), diagnostic tests, facemasks and thermal temperature scanners. In a recent Investor Alert, the SEC reminds investors to thoroughly research any investment opportunity and be wary of false statements intended to inflate the value of a company’s stock.
Information courtesy of the SEC
Recent Enforcement Actions
Complaints
- Amerex Petroleum 2 Singapore PTE LTD and Andrew Dodge Mawicke
- Direct Hedge Danmark Fondsmaeglerselskab As and Morten Orebo Dam
- Makor Securities London LTD and Michael Alexandre Benitah
- Professional Energy Management, Inc
- Starfuels PTE Ltd. and Loy Wah Chia
- Yas Castellum LLC and Marcus Todd Brisco
Decisions
- Amerex Petroleum 2 Singapore PTE LTD and Andrew Dodge Mawicke
- Professional Energy Management, Inc.
- Starfuels PTE Ltd. and Loy Wah Chia