On February 20, 2026, the Hawaii Securities Commission announced a major crackdown on unregistered investment advisors operating in the state. The move comes after a series of complaints from investors about fraudulent schemes and scams targeting Hawaii residents.According to the commission, several individuals and companies have been found to be offering investment advice and services without proper registration or licensing. These unregistered advisors have been luring unsuspecting investors with promises of high returns and low risk, only to disappear with their money.In response, the commission has issued cease and desist orders against several of these individuals and companies, barring them from providing investment advice or services in Hawaii. The commission has also launched an investigation into the activities of these unregistered advisors, in an effort to protect investors and uphold the integrity of the securities market in the state.Commissioner Lisa Wong issued a statement, warning investors to be cautious when dealing with investment advisors and to always verify their credentials and registration status before entrusting them with their money. She emphasized the importance of conducting thorough due diligence and seeking advice from reputable sources before making any investment decisions.In light of these recent developments, the commission has also urged investors to report any suspicious or fraudulent activities to the authorities, in order to help prevent further financial harm to Hawaii residents.The crackdown on unregistered investment advisors is part of the commission's ongoing efforts to protect investors and ensure compliance with securities laws in Hawaii. By taking swift and decisive action against those who seek to defraud investors, the commission is sending a clear message that fraudulent activities will not be tolerated in the state's securities market.