Regulatory Alerts2020-03-26
Activities of Unlawful Market Operators
The Securities and Exchange Commission has issued a public warning regarding the proliferation of unlicensed market operators and fraudulent investment schemes operating under specific corporate identities. Citing Section 38(1) of the Investments and Securities Act (ISA) 2007, the regulator mandates that only registered entities may conduct capital market activities, rendering the listed operations unlawful. Investors are advised to avoid funding these identified schemes and bear full financial risk for any capital deployed into unlicensed entities.
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