NASSAU, BAHAMAS — The Securities Fee has issued a warning to the general public over the more and more fashionable Foreign exchange buying
NASSAU, BAHAMAS — The Securities Fee has issued a warning to the general public over the more and more fashionable Foreign exchange buying and selling, noting that it’s ‘extremely speculative’ and carries ‘elevated threat of economic loss’.
The SCB in a discover stated that it has come to the Fee’s consideration that members of the general public are being solicited to affix applications being introduced as multi‐stage advertising (MLM) applications providing coaching in order that they can personally put money into international foreign money change buying and selling, or ‘FOREX’ as it’s generally referred to as.
“There are varied applications and/or schemes which are turning into more and more fashionable in The Bahamas as they’re reportedly providing Foreign exchange coaching to most people in order that purportedly individuals can in the end have interaction in buying and selling for themselves. These entities are not in any manner licensed or sanctioned by the Fee.
“People ought to be conscious that Foreign currency trading is a extremely speculative exercise that carries with it a considerably elevated threat of economic loss.
“These individuals who have interaction in Foreign currency trading solely for themselves ought to be conscious that losses can go properly past the quantity of their preliminary funding,” the Fee warned.
It additionally identified that it’s an offense for individuals to commerce in Foreign exchange for and behalf of different individuals with out being registered by the Fee.
“The Fee may be very involved and advises the general public to be conscious of these unregistered people, or entities that are working in or from inside The Bahamas. Additional, the Fee urges the general public to not have interaction, or proceed any dealings, with these entities or associated individuals,” the SCB stated.
Any one that has a criticism, and or additional data in relation to the above rip-off ought to contact Gawaine Ward, Supervisor, Enforcement Division on the Securities Fee of The Bahamas at phone quantity 397‐4100 or in writing to P.O. Field N‐8347, Nassau, The Bahamas or by way of e‐mail: [email protected].