SEC And CFTC Crack Down On Internet-Based Financial Fraud

METHODS & REGULATIONS

TWO US-based regulatory authorities, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), have recently taken action against financial fraudsters operating on the Internet.

According to a spokesperson for the CFTC, three activities have attracted the attention of its recently formed Internet surveillance group: misrepresenting a legal securities offering; illegally selling securities not listed by an exchange; and offering trading advice despite no

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