ModernGhana logo
25.02.2021 Business & Finance

Wiseling Online Investment Company is unlicenced – SEC cautions public

Rev. Daniel Ogbamey Tetteh, SEC boss
LISTEN FEB 25, 2021
Rev. Daniel Ogbamey Tetteh, SEC boss

THE SECURITIES and Exchange Commission (SEC) has warned the public that it has not licenced Wiseling Online Investment Company, a Finnish-based company operating in Ghana, 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).

A public interest warning issued by SEC dated February 23, 2021 said, “Wiseling Online Investment Company was therefore not regulated by the SEC.”

It said the general public was advised to be cautious with investing in unlicenced 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 licencing 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.

It continued that the public interest warning was issued pursuant to Sections 3 and 208(c) of the Securities Industry Act, 2016 (Act 929).

According to SEC, one of its core functions was to maintain surveillance over activities in the securities industry and protect investors by publishing at regular intervals information to the public to inform their investment decisions.

---Daily Guide