Regulatory Alerts2021-02-23
Public Interest Warning to Investors Regarding Wiseling Online Investment Company
The Securities and Exchange Commission of Ghana warns that Wiseling Online Investment Company is an unlicensed and unregulated entity prohibited from conducting capital market activities in the country. Investors are directed to avoid all financial products offered by the firm and exercise extreme caution regarding unregulated investment schemes. Market participants must independently verify the licensing status of any capital market operator by contacting the SEC via its official hotline numbers prior to committing funds.
‘‘Ensuring Investor Protection’’ SECURITIES AND EXCHANGE COMMISSION, GHANA 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 WISELING ONLINE INVESTMENT COMPANY, a Finnish-based company operating in Ghana has 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). WISELING ONLINE INVESTMENT COMPANY is 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 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: 23rd FEBRUARY 2021 PUBLIC INTEREST WARNING TO INVESTORS REGARDING WISELING ONLINE INVESTMENT COMPANY SEC/PN/003/02/2021