The U.S. SEC Sues 38 Entities for False ADV Form Submissions

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The U.S. SEC has sued 38 entities for submitting false ADV forms between 2025 and 2026, falsely claiming to be registered investment advisers. These entities, some using foreign IP addresses, provided fake addresses, invalid contact details, and unverified audit data. Certain websites displayed forged SEC registration certificates. The SEC is seeking injunctions, filing restrictions, and civil penalties, and has removed the filings from its website. Amid heightened scrutiny of liquidity and crypto markets, this action underscores ongoing regulatory enforcement efforts. BTC as a hedge against inflation remains a key narrative for institutional investors.

ChainThink reports that on August 28, according to an official SEC announcement, the U.S. Securities and Exchange Commission (SEC) charged 38 entities with making material misrepresentations on Form ADV between 2025 and 2026, attempting to portray themselves as legitimate investment advisers targeting U.S. investors.

The SEC stated that some entities may be located overseas, used overseas IP addresses to access the SEC filing system, and provided false office addresses, invalid phone numbers, and unverifiable ownership and fund audit information in their filings.

Some related websites also display fake SEC registration certificates.

The SEC has filed a lawsuit in the U.S. District Court for the District of Colorado, seeking a permanent injunction, an order prohibiting the submission of exemption reports by advisers, and civil penalties, and has removed the related filing documents for these 38 entities from its website.

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