The security and Exchange Commission (SEC) has cautioned Ghanaians, mainly the investors to stop investing with an illegal Chinese Firm. Chy Century Heng Yue Group Limited and Sairui E-commerce Ghana Limited are the illegal firms, that deals with electronic investment transactions. These two firms are operating without any legal documents from the security and Exchange Commission.
According to SEC, the Chinese firms and their partner are violating Section 3 of the Securities Industry Act, 2016, and therefore, they are not permitted to be involved in capital market activities. The security and Exchange Commission requested all investors to always confirm with them the legality of investment firms.
While Speaking to some Journalists, SEC noted, “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).”