Public warned against doing business with 17 unlicensed investment firms

The regulator, SEC, in a statement, asked the public “to be vigilant and refrain from investing in any unlicensed investment products.”

The SEC is the principal regulator of the securities industry, while the Bureau of Economic and Organized Crime is established by the Bureau of Economic and Organized Crime Act of 2010 (Bill 804) as a specialized agency to oversee and investigate economic and organized crime.

Section 2(a) of the Economic and Organized Crime Act 2010 (Act 804) gives the Economic and Organized Crime Bureau the mandate to prevent and detect organized crime.

In addition, the EOCO, under Section 3(d) of Act 804, has the function of taking reasonable steps to prevent the commission of the crimes specified in Section 3(a) – financial or economic loss. for the Republic or any State entity or institution in which the State has a financial interest, money laundering, human trafficking, prohibited cyber activity, tax evasion and other serious crimes.

As part of that mandate, the SEC and EOCO have launched joint investigations into the activities of certain entities, which they say “largely operate through online channels.”

Read the full statement from the SEC and EOCO below;