The Securities and Exchange Commission (SEC) is warning the general and investing public to beware of investment firm, Chy Century Heng Yue Group Limited and its partner, Sairui E-commerce Ghana Limited that has been undertaking electronic investments transactions.
According to the capital market regulator, it has not licensed the firm to carry out any capital market activity including investing or trading for returns as mandated by Section 3 of the Securities Industry Act.
As such, Chy Century Heng Yue Group Limited, cannot operate as an investment firm.
The general public is hereby put on notice that CHY CENTURY HENG YUE GROUP LIMITED/SAIRUI E-COMMERCE GHANA LIMITED have not been licensed by SEC to carry out any capital market activity including investing or trading for returns as mandated by Section 3 of the Securities Industry Act, 2016 (Act 929)”, it said in a statement.
CHY CENTURY HENG YUE GROUP LIMITED/SAIRUI E-COMMERCE GHANA LIMITED are therefore not regulated by the SEC.”
It is therefore advising investors to consult the SEC through its toll free line 0800100065 or main telephone number 0302768970-2 to confirm the licensing status of any firm offering products or services relating to investments in the capital market.
The SEC reassured all Market Operators, Investors and the General Public that it is dedicated to ensuring rigorous implementation of all the rules or operators in the Capital Market in order to promote the orderly growth and development of an efficient, fair and transparent securities market. This will ensure that investors and the integrity of the market are protected.
If further said “this public interest warning is issued pursuant to Sections 3 and 208(c) of the Securities Industry Act, 2016 (Act 929).
The SEC had issued similar warnings in the past including investing in gold dealing firm, Menzgold which led to some investors losing hugging investments.