The Securities and Exchange Commission (SEC) is cautioning the public to stay away from a Chinese firm known as Chy Century Heng Yue Group Limited/Sairui e-commerce Ghana Limited undertaking electronic investment transactions in the country.
According to SEC, 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, 2016 (Act 929).
SEC is therefore advising the investing public to consult the 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.
SEC in issuing the caution reassured all market operators, investors and the general public that it is dedicated to ensuring rigorous implementation of all the rules for operators in the capital market in order to promote the orderly growth and development of an efficient, fair and transparent securities market in which investors and the integrity of the market are protected.
Read below details of SEC’s public notice on Chy Century Heng Yue Group:
PUBLIC INTEREST WARNING TO THE GENERAL PUBLIC ON ELECTRONIC COMMERCE AND TRADING SCHEME
The Securities and Exchange Commission (hereinafter referred to as “SEC”) is the statutory body mandated by the Securities Industry Act 2016 (Act 929) to promote the orderly growth and development of an efficient, fair and transparent securities market in which investors and the integrity of the market are protected.
One of the core functions of the SEC is to maintain surveillance over activities in the securities industry and to protect investors by publishing at regular intervals information to the public to inform their investment decisions.
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 the Securities and Exchange Commission (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).
CHY CENTURY HENG YUE GROUP LIMITED/SAIRUI E-COMMERCE GHANA LIMITED are therefore not regulated by the SEC. The General Public is advised to be cautious with investing in unlicensed products. The General and investing Public is further advised to consult the 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 SEC wishes to reassure all Market Operators, Investors and the General Public that it is dedicated to ensuring rigorous implementation of all the rules for operators in the Capital Market in order to promote the orderly growth and development of an efficient, fair and transparent securities market in which investors and the integrity of the market are protected.
This Public Interest Warning is issued pursuant to Sections 3 and 208(c) of the Securities Industry Act, 2016 (Act 929).
ISSUED BY ORDER OF
THE SECURITIES AND EXCHANGE COMMISSION
DATED: 8th JANUARY 2021
