Boiler-room fraudsters are reportedly claiming to have the authorisation and backing of a non-existent US regulator, according to the Securities and Exchange Commission.
The British Financial Conduct Authority, moreover, believes that the firm known as the FFRB has been providing financial services or products in the UK without regulatory authorisation. Almost all firms and people who offer, promote or sell financial services or products in the UK require its fiat. The address of the fake regulator is 4th Floor, 100 State Street, Boston, MA02109, United States; the telephone number is +16178616585; its email is email@example.com and its smart black-and-white website is at www.fedfinregboard.com and says the following.
"If you get an unsolicited telephone call about an investment opportunity, be alert to the signs of fraud, warns Federal Financial Regulatory Board. You might be a target of a boiler room operation. Boiler room operations wear many disguises, and they are once again rearing their ugly head in. Boiler room operators hope to give you a false sense of security with promises of quick profits - but the only ones that profit are the scam artists, at your expense.
"They may be located in the financial district near reputable firms, but their address may be nothing more than a rented space tucked away from the public eye. Rarely, if ever, are the offers they peddle to your benefit. Why would a complete stranger call to offer you a no-risk, high-return investment? It is too good to be true."
The SEC has its own database of bogus regulatory bodies whose names fraudsters have invoked. They are, at the time of writing: the Board of Securities Trading Commission; the Bureau of Compliance and Regulatory Board; the Bureau of Financial Trading; the Bureau of International Securities Trading; the Centre for Securities Investigation Department; the Centre Point Financial Regulatory Board; the Central Equities Administrators; the Central Finance Regulatory Commission; the Central Stock Regulators; the Chicago Division of Securities; the Commission on Financial & Securities Compliance; the Commission on International Trade and Economics (COITE); the Department of International Financial Trading; the Department of Securities Liquidations; the Department of Securities Trading; the Division of Securities; the Division of Securities for the District of Columbia (DOSDC); the Eastern Security Trading Commission; the Economic and Financial Services Commission; the Equities Trading Commission; the Federal Division Of Securities, NY; the Federal Recapitalization Fund; the Federal Financial Regulatory Board; the Financial & Regulatory Oversight Board; the Federal Securities and Investments Regulatory Commission (FSIRC); the Federal Securities Commission; the Federal Securities Regulatory Agency; the Financial Action Task Force (Washington, DC version); the Financial Fraud Enforcement Task Force; the Financial Protection Commission; the The Financial & Regulatory Oversight Board; the Financial Securities and Equities Bureau (FSEB); the Financial Trading Board; the Forensic Accounting and Financial Fraud Investigator; the Global Compliance Agency; the Global Financial Protection Commission; the Global Investments Compliance Centre; the Global Securities Crime Investigators; the Global Securities Protection Agency; the Great Harbor Compliance Regulatory Board; ICSID (the International Centre for Settlement of Investment Disputes) Lawyers; the Integrated Financial Regulatory Board; the InterContinental Financial Regulatory Board; the InterGlobal Financial Registrar; the International Association of Transfer Agents; the International Board of Mergers & Acquisitions; the International Claims Commission; the International Commission of Securities; the International Compliance Assistance Centre; the International Equities Administrators; the International Exchange Commission; the International Exchange Commission; the International Financial Forensics Organization; the International Financial Oversight Commission; the International Financial Trading Commission; International Fraud Alert; the International Fraud Assessment Agency; the International Information Exchange; the International Investor Protection Coalition, aka IIP Coalition; the International Organization of Registrar and Clearing Agents (IORACA); the International Organization of Transfer and Registrar Agents; the International Securities Accreditation Authority; the International Securities Administrators; the International Securities and Equities Board; the International Securities Commission; the International Securities Regulators; the International Securities Validation Division; the International Share Verification Department; the International Stock Regulators; the International Trading Board; the Intertrade Compliance Board; the International Shareholders Compliance Department; the International Stock Transfer Administration (ISTA); the Investment and Security Fraud Protection Agency; the National Compliance Regulatory Board; the National Financial Commission; the Offshore Securities Commission; the Pennsylvania Division of Securities; the Regulatory Advisory Commission; the Regulatory Compliance Board; the Securities Administration; the Securities Compliance Agency; the Securities and Financial Commission (SFC; the Securities and Investments Disputes Agency; the Securities Regulation, Protection and Litigation Agency; the Securities Regulatory Agency; the Securities Regulatory Authorit; the Securities Trading Board; the Securities Trading Commission; the Securities Transfer & Registration Group; the Securities Validation Department; the State Securities Commission; the Stronghold Mergers & Acquisition Regulatory Board; the US Compensation Bureau; the US Compensation Department; the US Department of Registrars Bureau; the US District Court of Arbitration; the US International Bureau for Trading; the US Regulatory Securities Agency; the US Shareholders Registry Department; the United Financial Protection Commission; the United States Federal Court of Arbitration; the United States Federal System; the United States Investment Dealers Organization (USIDO); the United States Mergers and Acquisitions Regulators; the United States Regulators and Administration Commission; the United States Securities and Acquisitions Administration; the United States Securities and Investments Commission; the United States Securities and Investments Dealers; the United States Securities Regulatory Commision (sic); and the United States Settlement and Claims Commission aka Settlement Claims Commission (SCC).