SECP warns public

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has warned the public against investing in “FS Links (SMC-Private) Limited”, which has been trying to trap innocent people through social media to invest in fake schemes.

The SECP has found M/s FS Links (SMC-Private) Limited involved in unlawful activities of raising unauthorised deposits from the public by offering hefty profits. M/s FS Links is a Single Member Company and does not have any authorisation/license to solicit investments or deposits from public. The act of deposit-taking is a prohibited, contrary to the company’s object clauses. SECP has already initiated legal proceedings against the sole director of M/s FS Links, Faisal Hayat, having CNIC number 38101-78604-637 for unauthorised deposit taking. SECP also initiated winding-up proceedings against the company in terms of Section 304, read with Section 301 of the Companies Act, 2017. Moreover, the SECP has also authorised initiating legal proceedings against the director namely Faisal Hayat under Section 172 of the Act for his disqualification.