The Securities and Exchange Commission (SEC) has cautioned the public against the operations of CHY CENTURY HENG YUE GROUP LIMITED formerly known as SAIRUI E-COMMERCE GHANA LIMITED.
This notice of caution was communicated to the public in a statement published on the official website of the Securities and Exchange Commission on Friday, 8th January, 2020.
According to SEC, The move which was captioned "Public Interest Warning To The Public On Electronic Commerce and Trading Scheme" is pursuant to Sections 3 and 208(c) of the Securities Industry Act, 2016 (Act 929).
SEC explained that, even though, their office remains the only statutory body mandated by the Securities Industry Act 2016 (Act 929) to licence and regulate the operations of company under this category, however, CHY CENTURY HENG YUE GROUP LIMITED/SAIRUI E-COMMERCE GHANA LIMITED is not licensed.
Therefore, as a result of their mandate 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 commission is by the publication, given notice as follows;
"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)."
The General and investing Public is further advised to consult the SEC to confirm the licensing status of any firm offering products or services relating to investments in the Capital Market.
They ceased the opportunity 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.
Read full statement here:
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