Director-Normal, SEC, Rev. Ogbarmey Tetteh
The Securities and Trade Commission (SEC) has cautioned the community in opposition to Golden Empire and Loom as the regulator confirms they are unlicensed.
In accordance to the Director Common of the Securities and Exchange Fee, Rev. Daniel Ogbarmey Tetteh the general public needs to be cautious of these establishments to keep away from getting prey to frauds.
He mentioned, “We have received some see from folks by means of our channels by which people notify us of these techniques and we will follow due system to deal with the make any difference.”
He extra that “it is significant that traders must ask concerns right before they area their monies with these companies and 1 of the elementary questions is that what is the underlying investments? Since if everyone promises you high returns it indicates that there are substantial pitfalls and you are far better recommended to glimpse for the exit.”
Revocation of license
The Securities and Trade Fee (SEC) in April 2019 revoked the licenses of 5 financial commitment providers.
The corporations involve Georgetown Funds Companions Ltd, Fairness Money Ltd, Index Analytics Ltd, DM Cash Ltd and Oxygen Advisory Ltd at their possess threat, in accordance to the regulator.
SEC revoked their licenses pursuant to Segment 122 of the Securities Field Act, 2016 (Act 929).
The shift by the Securities and Trade Commission is to help sanitize the marketplace.