The Securities and Exchange Commission (SEC) has reiterated its commitment in protecting the investment of the public in the capital market and also promote progress in the securities sector.

This comes following the Commission’s recent surveillance, leading to the issuing of warning against transacting any business with Chy Century Heng Yue Group Limited and its partner, Sairui E-Commerce Ghana Limited.

“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,” the statement had it.

The warning which was issued by SEC in pursuant to Sections 3 and 208(c) of the Securities Industry Act, 2016 (Act 929) in a press statement last Friday explained that it had not granted permit for the firms engaging in electronic investments transactions to do so.

“The general public is advised to be cautious with investing in unlicensed products,” the statement said adding that, “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.”

It could be recalled that the Commission issued similar caution to the public against the activities of some firms, including its observation of the operations of Menzgold Ghana Limited in the capital market, a situation which led to many losing huge sums of money following their eventual closure.

The Securities and Exchange Commission is the statutory body mandated by the Securities Industry Act 2016 (Act 929) to register, license, authorise or regulate, and formulate principles for the guidance of the industry.

SEC is also responsible for monitoring the solvency of license holders and take measures to protect the interest of customers where the solvency of a license holder is in doubt.

In addition, it 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.