Public Alert: SECP Exposes Illegal Trading Platform Misusing Aviva Investors’ Name

In a significant development, the Securities and Exchange Commission of Pakistan (SECP) identified an illegal trading platform. The platform has been promoted through different social media channels, falsely promising significant returns on investments in the Pakistan Stock Exchange and international stock markets. The platform, operating under the names “Aviva Investment Group,” “H1-Aviva Securities Exchange Academy,” and “Aviva Investment Limited,” claims an affiliation with Aviva Investors, a UK-based asset management company. However, Aviva Investors has issued a scam alert on their website, elucidating that they have no association with these entities.

Aviva Investors cautioned that the operators of this fraudulent platform are misusing the company’s name to perform illegal trading activities on the Pakistan Stock Exchange. According to SECP, the company is neither registered nor licensed to operate any platform for trading shares on the Pakistan Stock Exchange or international stock exchanges.

SECP Identifies An Illegal Trading Platform Promising High Returns

The SECP strongly advised the public to abstain from depositing or investing funds with any trading platforms that are not licensed by the SECP.  The regulatory body underscored that trading should only be conducted through SECP-approved brokers to ensure the safety and legitimacy of investments.

To further protect the public, the name of the illegal company has been added to the “List of Companies Engaged in Unauthorised Activities” available on the SECP’s website. This list helps investors to verify the legitimacy of trading platforms and avoid potential scams. Moreover, the SECP has directed the matter to relevant authorities for investigation and necessary action.

The SECP’s proactive measures aim to protect investors from fraudulent schemes that can lead to noteworthy financial losses. By issuing this warning, the SECP highlights the importance of diligence and vigilance while immersing in trading activities. Investors are prompted to verify the credentials of trading platforms and brokers through the SECP’s official channels. Any suspicious activity should be reported.

The Securities and Exchange Commission of Pakistan (SECP) has also introduced significant restrictions on the regulations governing digital lending, particularly for small digital loans. These changes are aimed at ensuring better protection for borrowers and enhancing transparency within the digital lending sector. One of the key updates from the SECP is the reduction of the maximum amount for nano loans from Rs. 75,000 to Rs. 50,000. These loans can now be offered with a tenor of up to 90 days. Click here to learn more about it.