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July 12, 2019

SECP warns against illegal activities

Business

July 12, 2019

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has noticed that Galaxy Typing Jobs (SMC-Private) Limited is involved in illegal business activities of taking unauthorised deposits from the public by launching different investment programmes through its website (https://investment.galaxytypingjobs.com/) and offering incentives and hefty profits, a statement said on Thursday.

The company is fraudulently claiming through its website that it has been approved by the SECP.

The SECP would like to clarify that mere registration of a company with the SECP does not mean that the companies involved in such activities are doing legitimate business or allowed to collect deposits, it added.

The commission had already clarified through public warning and number of press releases that no such approval was granted to the company for taking deposits from the public or any activity akin to the same. All such schemes raising unauthorised deposits from the public are unlawful in Pakistan and the SECP has initiated legal action against the company.

The public is once again warned to be careful and not to be misled by any schemes, investment plans and programmes being offered by the aforesaid company through electronic or print media, website, emails, and mobile text messages, it said.

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