The Trinidad and Tobago Securities and Exchange Commission (TTSEC) has started a roadshow across the country with an aim of ensuring potential investors do not fall victim to certain schemes and scams.
Chief Executive Officer of the Trinidad and Tobago Securities and Exchange Commission (TTSEC), Kester Guy, explained in simple terms what his organisation does to help regulate the securities market: “You are the investor, we are your protector.”
Speaking at the inaugural Investor Education Community Outreach Roadshow at the Chaguanas Borough Corporation on Wednesday, he said the TTSEC is attempting to change the mindset of investors.
“We want to cultivate a culture where people feel empowered to ask questions, to verify the legitimate or the legitimacy of investment opportunities, and to exercise caution when approached with realities that sounds too good to be true. We believe that the informed investor are better able to make appropriate decisions, especially in a rapidly evolving financial landscape.”
He said in the past, many found themselves in some precarious positions and the TTSEC is attempting to ensure that any potential investor has the know-it-all to make an informed decision.
“Persons have found themselves subject to all types of misrepresentation, malpractice, scams, fraud, and so on. We need to prepare people to be aware, give them guidance as to what are some of the red flags, what are some of the things that they can look for, what are some of the things, the techniques used by these scammers so that once they see them, they can be alerted.”
Chaguanas Mayor Faaiq Mohammed noted the importance of such an event for the nation.
“Incidents such as the collapse of CL Financial a decade ago reminds us that severe consequences of financial mismanagement, lack of accountability, and insufficient oversight, thousands of investors, pensioners, and policyholders were left in uncertainty, underscoring the critical need for regulatory protections and informed financial decisions.”
The TTSEC CEO assured that the organisation will always be within reach to assist investors.
“But we’re also empowering people about their rights. As an investor, you have the right to ask questions about anything that you see that is being offered to you and you have a right to be answered. And if you feel as though you are not being addressed properly, whether it’s a complaint or otherwise, you are also made aware that you can lodge a complaint at the SEC, who will then look into the matter and take action if we found the information to be misleading.”