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Be on guard against Ponzi schemes – SEC warns

 

The Securities and Exchange Commission of Ghana (SEC) has cautioned the overall population against the exercises of Ponzi plans in the country.

SEC requested that the public be alert and report any such exercises to the security organizations for the fundamental moves to be made.

SEC as of late cautioned people in general against certain plans including the TIZAA GHANA FUND, saying it has not been authorized by the Securities and Exchange Commission (SEC) to do any Capital Market action including contributing or exchanging for returns as ordered by Section 3 of the Securities Industry Act, 2016 (Act 929). TIZAA GHANA FUND is in this way not managed by the SEC.

 

“The General Public is encouraged to be wary of putting resources into unlicensed items. The general and contributing Public is additionally encouraged to counsel the SEC through its complementary line number 0800100065 or primary line number 0302768970-2 to affirm the authorizing status of any firm contribution items or administrations connecting with interests in the Capital Market.

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“The SEC wishes to console all Market Operators, Investors, and the General Public that it is committed to guaranteeing thorough execution of the relative multitude of rules for administrators in the Capital Market to advance the precise development and improvement of a productive, fair, and straightforward protections market in which financial backers and the honesty of the market are safeguarded.”

 

Source: 3news.com

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