The Securities and Exchange Commission has warned that it will take strict action against media advertisements of unauthorized financial investment firms in the country.
This is part of the measures taken by the SEC to clean up the market and protect consumers from scams.
In revealing this to the media, Securities and Exchange Commission legal and enforcement chief Caliis Baidoo said the SEC is empowered under the laws to ensure that these unregistered companies do not attract the attention of the government. audience through advertisements.
“The Advertising Act gives us at the SEC certain roles to play when it comes to advertising or giving notice to the public on TV, on the radio, on all kinds of platforms.”
“If you look at 144, the headline is ‘Advertising and Consumer Protection of Financial Services’, so it’s clearly meant to protect people who watch advertisements,” he said in a presentation. “, did he declare.
The interaction is one of several engagements the SEC will undertake to educate the public about its mandate and also to receive public comment.
The first in the series began with the media under the theme: Understanding the SEC Mandate and Regulatory Toolkit.
SEC Chief Executive Officer Rev. Daniel Ogbarmey Tetteh noted that this is part of the regulator’s 10-year master plan.
He challenged journalists to deepen their understanding of the capital market in order to be in a better position to provide more accurate information.
He therefore called for media support to ensure that Ghana’s Securities and Exchange Commission becomes a leading securities regulator in Africa.