The Securities and Exchange Commission of Pakistan (SECP) has identified an illegal trading platform named “Aviva Investment Group/ H1- Aviva Securities Exchange Academy/ Aviva Investment Limited “.
As per a press release issued by the SECP, the platform is being promoted through various WhatsApp groups and social media channels and is falsely claiming substantial returns on trading in the Pakistan Stock Exchange and international stock markets.
“The illegal platform is falsely claiming an association with Aviva Investors, a UK-based asset management company. However, Aviva Investors has issued a scam alert on its website warning that operators of the illegal platform are misusing the company’s name to conduct unauthorised trading activities on the stock exchanges in Pakistan,” read the SECP’s press statement.
The general public is informed that “Aviva Investment Group/ H1-Aviva Securities Exchange Academy/ Aviva Investment Limited” is neither registered nor licensed by SECP to operate any platform for trading shares on the Pakistan Stock Exchange or international stock exchanges, the SECP said.
The trading in shares of listed companies and/or commodities should only be conducted through securities and futures brokers licensed by SECP.
SECP warned the general public not to deposit or invest any funds with “Aviva Investment Group, H1-Aviva Securities Exchange Academy or Aviva Investment Limited” or any such other trading platform in any form or arrangement.
The name “Aviva Investment Group/ H1-Aviva Securities Exchange Academy/ Aviva Investment Limited” has been added to the “List of Companies Engaged in Unauthorized Activities” available on SECP’s website. Furthermore, SECP has also referred the matter to relevant authorities for investigation and necessary action.
