The SEC said on October 29 that filings submitted by BG Wealth Sharing Ltd and DSJ Exchange Pty Ltd had been removed from its website as it announced civil charges against both entities. The agency alleges they used publicly visible filings as supposed evidence that the regulator had licensed or approved them.
The announcement identifies the removed records as BG Wealth’s Form ADV and DSJ Exchange’s Form D. It does not give a removal date or announce a wider change to the SEC’s filing system.
Public records and claims of approval
According to the SEC, the two foreign-operated, Colorado-incorporated entities promoted a supposed wealth-sharing program based on crypto trading signals. The complaint alleges BG Wealth presented itself as an SEC-registered investment adviser and DSJ Exchange as a licensed trading platform, using false filings to support those representations.
The distinction matters because different filings serve different purposes. The SEC’s exempt reporting adviser alert, dated August 27, explains that an exempt reporting adviser, or ERA, is not registered with the agency, although it must report some information on Form ADV. Registered advisers also use Form ADV but must complete all its sections.
The agency’s separate registration guidance says a Form D filing does not establish SEC registration, licensure or approval. It also states that the SEC does not issue registration certificates. A public filing and the approval claimed for it are therefore separate questions.
Civil allegations, requested relief
The SEC says its complaint was filed in the Northern District of California and seeks injunctions, disgorgement with interest and civil penalties. Those are requested remedies. The October 29 announcement reports allegations and the removal of specific filings; it does not announce a judgment establishing the defendants’ liability.