# SEC Cautions Investors About Unlicensed Operators

- Link: https://www.thailand-business-news.com/crime/163464-sec-cautions-investors-about-unlicensed-operators
- Published: 2024-09-19T15:12:13+07:00
- Author: Fang Zhang

The Securities and Exchange Commission (SEC) has issued a warning to investors regarding
the risks posed by unlicensed operators in the securities, derivatives, and digital
asset markets. This caution includes foreign operators who may be promoting fraudulent
offers or scams.

## Key Takeways

 * The Securities and Exchange Commission (SEC) has warned investors about risks
   from unlicensed operators, including foreign entities, in securities, derivatives,
   and digital asset markets. These entities often participate in exhibitions and
   promotional events outside the SEC’s regulatory scope, raising fraud concerns.
 * SEC’s Deputy Secretary-General Anek Yooyuen emphasized monitoring events for 
   unlicensed investment advice. Unlicensed operators or unauthorized products may
   face imprisonment and fines.
 * The SEC has closed over 1,800 fraudulent online accounts. The regulator urges
   event organizers to permit only licensed operators to avoid illegal activities.
   Investors should verify business legitimacy through the SEC’s website or the 
   SEC Check First application.

The SEC noted that these unlicensed entities often participate in exhibitions and
promotional events, operating outside its regulatory oversight, thereby increasing
the likelihood of investor fraud.

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SEC Deputy Secretary-General Anek Yooyuen stated that the commission is currently
monitoring events where investment advice is solicited. If any activities are found
to involve unlicensed operators or unauthorized investment products, they may face
legal action from the agency, potentially resulting in imprisonment and fines.

In a recent enforcement effort, the SEC has closed over 1,800 fraudulent online 
accounts. The regulator is urging event organizers to ensure that only licensed 
business operators are allowed to set up exhibition booths to avoid facilitating
illegal activities.

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The SEC continues to collaborate with relevant authorities to address violations
of securities laws and protect investors from potential scams. Investors are encouraged
to verify the legitimacy of business operators through the SEC’s website or the 
SEC Check First application before engaging in any investment services.

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