UNAUTHORIZED: SCB warns RAY-E Securities Investment Company not registered entity

UNAUTHORIZED: SCB warns RAY-E Securities Investment Company not registered entity

Commission cautions public against conducting business with unlicensed/unregistered entities

NASSAU, BAHAMAS — The Securities Commission of The Bahamas (SCB) has advised that RAY-E Securities Investment Company is not a registered entity and may be conducting business illegally.

The commission, in a notice, said it realized the entity referred to as RAY-E Securities Investment Company may be conducting activities that are either registrable/licensable or illegal under one or more of the acts.

“The commission hereby advises the public that this entity and its agents/representatives are not registered with/licensed by the commission,” it noted.

“Additionally, this entity has not made the requisite applications to be registered/licensed by the commission. Therefore, any registrable/licensable activity conducted in or from The Bahamas by this entity and its agents/representatives is in violation of one or more of the acts.

“If this entity or its agents/representatives claims to be legally authorized or licensed to engage in any aspect of the securities industry in or from The Bahamas, they have committed an offence and are liable for criminal prosecution and/or regulatory sanctions under the relevant laws of The Bahamas.”

According to the commission, via its websites https://www.ray1987.com and https://www.ray-e1.com, RAY-E offers Securities Trading, Investment Management and Brokerage services.

“The websites display a Certificate of Registration, #SIA-F256, purportedly issued by the commission. It is not a legitimate or legal certificate and it was NOT issued by the commission. It is a false and fraudulent document,” the commission noted.

“Individuals currently (or desirous of) conducting business with the aforementioned entity or its agents/representatives should be cognizant that they are doing so with an entity and/or agents who are not authorized or regulated by the commission and appear to be in criminal violation of several laws.

“Listings of the commission’s registrants and licensees who are authorized to engage in securities, investment funds or the financial and corporate service businesses in or from The Bahamas may be found on the commission’s website at https://www.scb.gov.bs/registrant-licensee-search.”

The commission pointed out that if a company or an individual does not appear on those listings, one can reasonably assume that that company or individual is not registered with or licensed by the commission as of the date of the listing.