ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has identified an illegal trading platform being promoted through various social media channels, falsely claiming substantial returns on trading in the Pakistan Stock Exchange and international stock markets.
Operating under the name “Aviva Investment Group/ H1-Aviva Securities Exchange Academy/Aviva Investment Limited”, the platform is falsely claiming an association with Aviva Investors, a UK-based asset management company. However, Aviva Investors have issued a scam alert on its website, the SECP says.
Aviva Investors warned that operators of the illegal platform are misusing the company’s name to conduct unauthorised trading activities on the Pakistan Stock Exchange.
The SECP said the company was neither registered nor licensed to operate any platform for trading shares on the Pakistan Stock Exchange or international stock exchanges.
The SECP warned the public to not deposit or invest funds with ’Aviva Investment Group, H1-Aviva Securities Exchange Academy/Aviva Investment Limited“ or any such trading platforms that are not licensed by the SECP. It said trading should only be done through SECP-approved brokers.
The name of the illegal company has been added to the “List of Companies engaged in Unauthorised Activities” available on SECP’s website. Furthermore, the SECP has also referred the matter to relevant authorities for investigation and necessary action.
Published in Dawn, August 7th, 2024
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