The Securities and Exchange Commission of Pakistan (SECP) has clarified that mere registration of a company with SECP did not authorize it to seek deposits from the general public. Deposit taking by companies other than banking companies is illegal in terms of section 84 of the Companies Act 2017, said a press release issued here. Furthermore, financial services including car financing, leasing, acceptance of deposits, house financing etc. can only be offered by specialized companies holding valid license and regulatory approvals. General public is advised in their own interest to be careful, not to deal and invest in illegal schemes offered by companies involved in any illegal deposit taking, unauthorized investment or Multilevel Marketing (MLM). The SECP while exercising its regulatory powers to curb illegal deposit taking in the country has taken stern actions against Shaukat Marwat Group comprising of the following companies found involved in illegal deposit taking:Shaukat Marwat Group of Companies (Private) Limited, Shaukat Marwat Estates and Builders (Private) Limited, Shaukat Marwat Transports (Private) Limited, Shaukat Marwat Imports/Exports (Private) Limited, Shaukat Marwat Restaurants (Private) Limited, Shaukat Marwat Hotels (Private) Limited. The SECP has observed that the aforementioned companies are using their registration with SECP and FBR to win public confidence and are soliciting financing through unauthorized investment schemes through Facebook groups and posts on social media.