The Securities and Exchange Commission (SEC) has issued a stern public warning regarding the activities of several unauthorized entities operating across social media and online platforms.
According to the capital market regulator, these entities have been actively promoting and offering unlicensed investment products to unsuspecting members of the public.
In a public notice, the SEC clarified that none of the affected entities have been granted a licence to carry out capital market activities.
The commission emphasised that operating without a valid licence directly violates Section 3 of the Securities Industry Act, 2016 (Act 929) as amended.
To protect investors and maintain market integrity, the regulator disclosed that it is currently working alongside law enforcement agencies to track down and clamp down on the individuals and groups behind these unlawful schemes.
Members of the general public have consequently been advised to remain highly vigilant and desist from placing their monies into these illegal investment schemes.
The commission further urged prospective investors to verify the licensing status of any individual or business offering capital market services before making financial commitments. Members of the public can confirm the legitimacy of investment entities by contacting the SEC via its toll-free line on 0800100065, its main lines on 0302768970-2, or by sending an enquiry via email to info@sec.gov.gh.
By: Rainbowradioonline.com/Ghana
