Quote from SgtSlottter:
This SEC bust is about all the unregistered sub 'prop' groups. Alchemy itself may have had some functioning as more of an allocator type, but the rest of these entities are simply unregistered LLCs. Fredericks is the same guy from Tuco Trading. These are all unregistered, and in these cases, offshore BDs.
So the same goes for allocators, offshore / non-us unregistered prop groups, and of course, official BDs with crappy financials. Most are safe, but there's plenty of public info out there.
yep.