Red flags

How to check whether an investment or seller is registered

Regulators say the first check is whether the firm or person offering an investment is registered or authorised, using the regulator's own website.

• The SEC says a name search on Investor.gov leads to the Investment Adviser Public Disclosure site, which shows whether a professional or firm is licensed with the SEC, a state or FINRA, and any disciplinary history.¹
• The SEC says searches may also lead to BrokerCheck, "a website run by FINRA specifically for broker-dealers."¹
• In the UK, the FCA says to search its Firm Checker to find out whether a firm or individual is authorised, and to reach it only through the FCA's own address, not through links in emails.²
• The FCA warns that some scammers pretend to be authorised firms, so investors should use only the contact details shown on the Firm Checker, and check the FCA Warning List.²
• Regulators elsewhere publish alerts on unregistered schemes. The Securities and Exchange Commission Nigeria said in 2016 that MMM Nigeria was "not registered by the Commission."³

Sources

1. US Securities and Exchange Commission (Investor.gov), Check out your investment professional (28 October 2026)
2. UK Financial Conduct Authority, ScamSmart (28 October 2026)
3. Securities and Exchange Commission Nigeria, Public alert on the activities of MMM Federal Republic of Nigeria (30 August 2016)