Publicly posting about (I) your returns or (ii) the SPV you raised to buy secondary when you’re not an RIA
Is playing with fire with the SEC
Jason R.
Brief
Jason R. Shuman warns that publicly sharing (1) your personal investment returns or (2) that you raised an SPV to purchase secondary positions while you are not a registered investment adviser (RIA) invites SEC attention and potential enforcement; he frames such public disclosures as effectively risky and noncompliant behavior.
Why it matters
Jason R. Shuman (Twitter/X, 2026-08-04) warns that publicly posting your investment returns can attract SEC scrutiny and potential enforcement.
Key details
- Announcing that you raised an SPV to buy secondary interests while you are not a registered investment adviser (RIA) risks regulatory action — the author calls it “playing with fire.”