This is encouraging, but I wonder how whistleblowers or BBB backed complaints haven't resulted in more federal / class-action suits against get-rich-quick scammers like Grant Cardone and Thai Lopez common on YouTube?
SEC mostly will be fine if principals disclose the risks to investors in prospectus and do correct accounting.
Companies mostly run intro trouble with SEC for issuing securities illegally, not complying with market reporting procedures, cooking books.
We can open the company that teaches people how to live longer, based on some BS that we cooked up and charge 10k an hour.
As long as in our prospectus we are clear, that there is no scientific evidence that our product does anything and we believe that our BS teachings help people to live longer, we should be good in SEC eyes.It will help to lawyer up when we are doing those prospectus, but I am pretty sure Grant and Thai lawyered up to their ears.
The Better Business Bureau is non-governmental and has no authority to do anything.
[1] https://business.time.com/2013/03/19/why-the-better-business...
https://www.ftc.gov/news-events/press-releases/2018/10/marke...