“…I’m a senior compliance officer with the Securities and Exchange Commission… I am confirming a buy order from Mr. [REDACTED], who is a portfolio manager of [REDACTED]…in accordance to the regulations that are set forth by the Securities and Exchange Commission on the U.S. markets, Mr. [REDACTED], for the protection of both parties, what I’m going to do is record the details of the trade. It goes on file as a voice audio signature with the Securities and Exchange Commission as a regulated trade . . . It’s non-retractable…do I have your consent to place the order?”
“The audio recording is what fraud sounds like,” said Lori Schock, Director of the SEC’s Office of Investor Education and Advocacy.
Equally important, the SEC included the recording in the Investor Alert. In like manner, it allows investors to familiarize themselves with the high pressure tactics of SEC impostors. The recording was provided from a vigilant and clear-headed investor who suspected the call was a scam.
In conclusion, if you have questions regarding someone pretending to be from the SEC, contact the SEC’s Office of Inspector General (OIG) toll-free hotline at (877) 442-0854.
