The Securities and Exchange Commission (SEC) has exposed the unauthorised operations of two investment companies.
This is contained in a press release dated July 1.
This is pursuant to the SEC’s mandate to maintain surveillance over activities in the securities industry and to protect investors by publishing at regular intervals information it deems relevant to the public.
“The General Public is hereby put on notice of the following list of entities operating on social media promoting and operating unlicensed investment products in the country. These entities are:
1. News GH – advertising an unlicensed investment product called “Gold AI Rise Platform.”
2. Ghana News – advertising an unnamed unlicensed investment product, promising unrealistic returns at no risk,” SEC stated.
“The SEC has not licensed any of the above-mentioned entities to carry out Capital Market activities, as mandated by Section 3 of the Securities Industry Act, 2016 (Act 929) as amended. The SEC is currently collaborating with law enforcement agencies to clamp down on the people behind these entities,” it assured.
The SEC cautioned “the General Public to be vigilant and to desist from investing in these unlicensed products. The General Public is further advised to refer to the SEC through its toll-free line number 0800100065/main-line number 0302768970-2 or alternatively send an email to [email protected] to confirm the licensing status of any entity offering products or services relating to investments in the Capital Market.
About Securities and Exchange Commission
The Securities and Exchange Commission (SEC) is the statutory body set up by the Securities Industry Act, 2016 (Act 929), as amended by the Securities Industry (Amendment) 2021 (Act 1062), with the object of regulating and promoting the growth and development of an efficient, fair, and transparent securities market in which investors and the integrity of the market are protected.
