KINGSTON – The Financial Services Commission (FSC) has beefed up its security measures amid its ongoing battle with high-risk investment schemes.

FSC deputy director George Roper confirmed that the firm had intensified its security capacity.

Roper was, however, unwilling to state a specific reason for the decision.

"We don't discuss security arrangements with the public," said Roper. "We will not discuss details of our personal security arrangement with the public as this may compromise the effectiveness of those arrangements."

A week ago, the FSC issued cease-and-desist orders on the investment scheme Cash Plus, demanding that "Cash Plus Ltd et al immediately stop conducting securities business, including soliciting and accepting loans with members of the public until Cash Plus is licensed by the FSC."

A demand was also made for Kahlil Harris of Cash Plus to stop carrying out functions as a dealer's representative or holding himself out as a dealer's representative unless and until he is registered with the FSC.

The FSC said failure to stop these activities was an offence under Section 68 (7) of the act and was punishable upon conviction by a fine or imprisonment, or both.

Last week several Cash Plus investors turned up at its offices in Half-Way Tree and New Kingston to get clarification on the current status of the company.

Investors were told not to withdraw their monies but to roll over their investments for the next three months. (Jamaica Gleaner)