SEC Launches Investor Protection Search Tool

Move over BrokerCheck – the SEC has recently launched an online search feature that enables investors to research whether the person trying to sell them investments has a judgement or history of enforcement actions. According to a statement released by the SEC, “the new tool is intended to assist the public in making informed investment decisions and avoiding financial fraud.”

The SEC Action Lookup for Individuals – or SALI– will help identify registered and unregistered individuals who have been parties to past SEC enforcement actions and against whom federal courts have entered judgments or the SEC has issued orders.

The new tool’s results are not limited to registered investment professionals, as with many existing online search functions. Instead, SALI allows the public to identify individuals who have settled, defaulted, or contested an enforcement action brought by the SEC, provided that a final judgment or order was entered against them in a federal court or an administrative proceeding.

Currently, SALI search results include parties from SEC actions filed between October 1, 2014 and March 31, 2018. The SEC will update the search feature periodically to add parties from newly-filed actions and actions filed prior to October 1, 2014.

To visit the homepage of the new tool, click here.

To read the press release, “SEC Launches Additional Investor Protection Search Tool,” click here.