The Director General of the Securities and Exchange Commission (SEC), Rev. Daniel Ogbarmey Tetteh, has revealed that investment firms, Golden Empire Legacy Limited and Loom are operating without license from his outfit.
According to the SEC boss, the public must be vigilante in transacting business with these two firms.
Speaking in an interview on Happy FM’s ‘Epa Hoa Daben’ show, Rev. Tetteh said Golden Empire Legacy Limited and Loom are said to be engaged in gold investments but according to SEC, the two institutions have not been licensed to operate in the capital market.
“If they say they are licensed, by who and what is their business? They said they are licensed by export code or whatever. You know that in Ghana , we have the minerals commission and they give licenses for those who operate in the gold area. So if they say they are licensed, the question that must be asked and answered is, who gave them the licence? I’m just saying that the SEC hasn’t given a license to those two entities. For anybody to deal with them , you must ask them who is their regulator and if they say SEC is their regulator, you must come here and verify,” Rev. Tetteh said.
He further advised investors to desist from investing in companies that promise high returns with a promise of it being guaranteed.
“My statement is we haven’t issued license to them and to help you and your listeners , you can always go to our website www.sec.gov.gh to verify for yourself if these two entities or any other entity which will come like that is licensed,” he added.
Golden Empire Legacy Limited and Loom are said to be new entities engaged in gold investments.
By: Joseph Nii Ankrah
