I've tried turning off all code signing everywhere in the workspace and it still fails with:
CodeSign /Users/joel/Library/Developer/Xcode/DerivedData/SetupController-gzouxnkpbngnkvcafgdgnnlmxhqo/Build/Products/Debug-iphonesimulator/SetupController.bundle
cd /Users/joel/Downloads/SetupController-master/Example/Pods
export CODESIGN_ALLOCATE=/Applications/Xcode.app/Contents/Developer/Toolchains/XcodeDefault.xctoolchain/usr/bin/codesign_allocate
export PATH="/Applications/Xcode.app/Contents/Developer/Platforms/iPhoneSimulator.platform/Developer/usr/bin:/Applications/Xcode.app/Contents/Developer/usr/bin:/usr/local/bin:/usr/bin:/bin:/usr/sbin:/sbin"
Signing Identity: "-"
/usr/bin/codesign --force --sign - --timestamp=none /Users/joel/Library/Developer/Xcode/DerivedData/SetupController-gzouxnkpbngnkvcafgdgnnlmxhqo/Build/Products/Debug-iphonesimulator/SetupController.bundle
/Users/joel/Library/Developer/Xcode/DerivedData/SetupController-gzouxnkpbngnkvcafgdgnnlmxhqo/Build/Products/Debug-iphonesimulator/SetupController.bundle: bundle format unrecognized, invalid, or unsuitable
Command /usr/bin/codesign failed with exit code 1
I am using Xcode Version 8.2.1 (8C1002) on OS X 10.12.3.