SEC Warns Public against Unlicensed Securities Company Scam

The Securities and Exchange Commission (SEC) of Sri Lanka has issued an urgent warning about Blue Ocean Securities Ltd., confirming it is not licensed to trade in securities or act on behalf of investors. Investigations revealed the company’s Chief Analyst and assistant are unregistered, and international verification shows the firm is not authorised by the UK Financial Conduct Authority (FCA).

Investors are strongly cautioned not to deposit funds, engage in transactions, or join WhatsApp groups linked to the company. Authorities have launched regulatory and law enforcement measures to curb its operations.

The SEC emphasized that only licenced stockbrokers should be used, and investors must open a CDS account before trading. The commission urged the public and media to share the scam alert widely, warning that fake securities firms exploit unsuspecting investors through social media and online channels, posing a significant threat to Sri Lanka’s capital market integrity.

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