Says they aren't authorised to seek investments
The Securities and Exchange Commission of Pakistan (SECP) has published a list of companies who are fraudulently calling for investment.
These companies are claiming to be registered with the SECP and FBR but are not. They are offering unauthorized business activities of leasing/financing, MLM, pyramid/Ponzi schemes, various fake posts and are also seeking deposits from the general public in the name of jobs, investment and trading.
The Commission has cautioned people from investing in these companies. It has initiated legal proceedings against several companies:
The SECP also listed companies it frequently receives complaints and queries against for their unauthorized activities.
It said that being registered with the SECP does not authorize it to seek deposits from the general public.