Name: Secure International Exchange Committee
Type: Fake regulators and/or market operators
Address(es): Transnational Finance Centre
Tower 2
10 Finance Street
Hong Kong
Remarks: The company falsely claims it regulates securities industry and provides the above invalid Hong Kong address. It is apparently associated with Smith and Dalton M&A, another unlicensed entity on the Alert List.
Add date: 22 Sep 2010
Fake regulators and/or market operators

Creating a fake regulator and/or market operator website is one of the tricks used to deceive unwary investors into thinking that certain unauthorised financial institutions or intermediaries listed on that website are supervised by a real regulator and that they conduct their trades through a recognised market operator (e.g. stock exchanges). The scamsters create a website for a non-existent financial regulator or market operator with a plausible name. Such a website is usually sophisticated and often contains up-to-date financial news to create a false impression of authenticity. In fact, no such financial regulator or market operator exists under that name.

To check whether a financial regulator and market operator really exists, see the member lists of the International Organization of Securities Commissions and the World Federation of Exchanges respectively.

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