SEC warns public against electronic commerce and trading scheme

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The Securities and Exchange Commission (SEC), has warned the public against doing business with Chy Century Hong Ye Group Limited and Sairuir E-commerce Ghana Limited.

The Commission said the entities had not been licensed to carry out capital market activity, including investing or trading for returns as mandated by Section 3 of the Securities Industry Act, 2016 (Act 929).

The public interest warning is issued pursuant to Sections 3 and 208(c) of the Securities Industry Act, 2016 (Act 929).

A statement from the Commission advised the public to be cautious with investing in unlicensed products.

It also advised the public to consult SEC through its toll free line number 0800100065 or main line number 0302768970-2 to confirm the licensing status of any firm offering products or services relating to investments in the capital market.

The statement reassured market operators, investors and the public of its dedication to ensuring rigorous implementation of all rules for operators in the capital market to promote the orderly growth and development of an efficient, fair and transparent securities market in, which investors and the integrity of the market were protected. — GNA

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