SECP Warns Investors for “Real Estate Segregation” Programs
Friday, the Securities and Exchange Commission of Pakistan (SECP) issued a public warning in Islamabad that certain firms will invest in fraudulent investment schemes marketed on their internet platforms.
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According to published sources, the Commission has issued a warning after discovering that some publicly traded companies are using their websites and online platforms to sell real estate assets to people. This is prohibited. The SECP has not allowed these businesses to participate in these activities under the sandbox regulatory system of the Commission.
Furthermore, Article 87 (2) of the Securities Act of 2015 states that a person may not sell securities to the general public without SECP approval. According to the authorities, the alleged company has already been prosecuted for engaging in an illegal transaction.
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In addition, SECP issued a public warning statement. It is in the public’s greatest interest to prevent them from investing their hard-earned money in illegal systems.
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