Cold calling
Cold calling is unsolicited contact with prospective investors. It is regulated rather than prohibited, and it is the traditional delivery mechanism for boiler-room fraud.
Where does cold calling come up?
This term is used in the following manipulation techniques, each explained in full on its own page.
Enforcement actions involving these techniques
| Action | Agency | Filed | Technique | Penalty | Status |
|---|---|---|---|---|---|
| SEC v. Andrew Spaventa and others (boiler rooms, 2026) | SEC | 2026-08-17 | Boiler Rooms | — | filed |
| SEC v. unnamed respondents (boiler rooms, 2024) | SEC | 2024-11-20 | Boiler Rooms | — | dismissed |
| SEC v. Anthony Guarino (boiler rooms, 2024) | SEC | 2024-09-12 | Boiler Rooms | — | settled |
| SEC v. Mario Gogliormella, Steven Lacaj, and Karim Ibrahim a/k/a/ Chris Hayes (boiler rooms, 2024) | SEC | 2024-06-12 | Boiler Rooms | — | filed |
| SEC v. James P. Anglim (boiler rooms, 2023) | SEC | 2023-07-17 | Boiler Rooms | — | judgment |