SEC alerts public against cold call investment scams

Issuing a notice the Director-General of the Security and Exchange Commission of Sri Lanka (SEC) warned the public with regard to a  growing number of unsolicited phone calls from persons claiming to be agents of international stock broker firms, offering to facilitate investment in the share of companies traded on offshore jurisdictions with a promise of guaranteed high returns. Adding to the notice the Security and Exchange Commission of Sri Lanka further stated that; “The SEC as the apex regulator of the capital market in Sri Lanka is legally empowered only to issue licences to stock broker firms to operate in Sri Lanka. The list of stock broker firms licensed by the SEC is available on our website, www.sec.gov.lk or the website of the Colombo stock exchange, www.cse.lk. The SEC does not grant licences to agents to operate in other jurisdictions or act as agents of international stock broker firms.”

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