In a statement dated March 22, 2018, the Commission des Marchés Financiers said that it received an alert on March 20, 2018, about the activities of an entity called “ADAM E-BUSINESS SPACE” based in Yaoundé and whose In recent months, the promoter has been providing financial services to individuals through promises of very advantageous returns on the financial markets.
According to preliminary information, more than 10 million CFA francs have already been collected from the public.
The Financial Markets Commission wishes to inform the public that the solicitation, advertising and solicitation of funds for financial investments with a promise of return made by the “ADAM E-BUSINESS SPACE” entity are regulated. They constitute “public offering” transactions within the meaning of Article 91 of the OHADA Uniform Act relating to the law of commercial companies and GIE.
Under Articles 56 et seq. Of the CMF General Regulation, the receipt and transmission of orders, execution of orders on behalf of third parties, portfolio management on behalf of third parties and placement are regulated investment funds by Investment Service Providers (ISPs) with an authorization issued by the French Financial Markets Commission.
The “ADAM E-BUSINESS SPACE” entity has not, to date, requested, let alone obtained from the Commission, an approval as a PSI.
The illegal exercise of PSI’s activities is punishable by the penalties provided for in Article 35 of Law No. 99/015 of 22 December 1999 establishing and organizing a financial market without prejudice to legal proceedings.
The Commission des Marchés Financiers (CMF) warns the Cameroonian public and calls on them to be very cautious about the investment offers of the entity called “ADAM E-BUSINESS SPACE”.
For investment of savings transactions, the Financial Markets Commission invites the public to use only the approved Investment Service Providers.
