🚨 SEC Sounds Alarm Over Unauthorized Investment Tips on Social Media

• The Securities and Exchange Commission of Sri Lanka (SEC) has issued a strong warning to social media users (including platforms like X) regarding the sharing or following of unlicensed investment recommendations. • Legal Mandate: Only Registered Investment Advisors or bodies officially licensed by the SEC are permitted to issue investment-related guidance. • Strict Penalties: Individuals who violate Part 5 of the SEC Act risk prosecution before the High Court. • Minimum Fine: Penalties include a fine of at least Rs. 10 million, imprisonment of up to ten years, or both. • Investor Protection: This action is part of the SEC’s ongoing effort to protect the interests of investors and maintain market integrity.