The Securities and Exchange Commission has warned that it will be taking strict action against media advertisements of un-licensed financial investment firms in the country.

This is part of measures by the SEC to clean up the market and protect consumers from scam.

Disclosing this to the media, Head of Legal and Enforcement at the Securities and Exchange Commission, Caliis Baidoo said the SEC is empowered under the laws to ensure that these unregistered companies do not catch the eyes of the public through advertisements.

“The law on advertisement gives us the SEC some roles to play when it comes to advertising or publishing notices to the public on TV , radio, all kinds of platforms.”

“If you look at 144, the title is ‘Advertisement and Protection of Consumers of Financial Services’ so this is clearly targeted at protecting people who are watching adverts” he said in a presentation.”, he mentioned.

The interaction is part of several engagements the SEC will be embarking on to educate the public on its mandate and also to receive public feedback.

The first of the series began with the media under the theme: understanding the mandate and regulatory toolkit of the SEC.

Director General of the SEC, Rev. Daniel Ogbarmey Tetteh noted that this is part of the regulatory body’s 10 years master plan.

He challenged Journalists to deepen their understanding of the capital market to be better placed in giving more accurate information.

He therefore called for media support to ensure that the Securities and Exchange Commission of Ghana becomes a top tier securities regulator in Africa.