Home Business SEC warns against patronising unregistered online investment, trading platforms
BusinessNews

SEC warns against patronising unregistered online investment, trading platforms

Share
SEC logo
Share

By Chioma Obinagwam

Nigeria’s Securities and Exchange Commission (SEC) has warned the investing public on the proliferation of unregistered online investment and trading platforms facilitating access to trading in securities listed in foreign markets.

Confiance News gathered from a circular to Capital Market Operators (CMO) signed by the Management of the Commission in Abuja on its website on Thursday.

According to the Circular, “The attention of the SEC has been drawn to the existence of several providers of online investment and trading platforms which purportedly facilitate direct access of the investing public in the Federal Republic of Nigeria  to securities of foreign Companies listed on Securities Exchanges registered in other jurisdictions.

“These platforms also claim to be operating in partnership with Capital Market operators (CMOs) registered with the Commission

“The Commission categorically states that by the provisions of Sections 67-70 of the Investments and Securities Act (ISA), 2007 and Rules 414 & 415 of the SEC Rules and Regulations, only foreign securities listed on any Exchange registered in Nigeria may be issued, sold or offered for sale or subscription to the Nigerian public.

“The Commission enjoins the investing public to seek clarification as may be required via its established channels of communication on investment products advertised through conventional or online mediums, ” the statement disclosed.

Please follow and like us:
Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Start your career with NNPC Limited

Start your career with NNPC Limited
Start your career with NNPC Limited

Member

Don't Miss

How NCC aids cyber hygiene

Please follow and like us:

The real meaning of favour

By Chioma Obinagwam Favour is the flavour of God that covers your errors and colours your efforts. The guest minister at the Redeemed...

Related Articles

The real meaning of favour

By Chioma Obinagwam Favour is the flavour of God that covers your...

NCC

Please follow and like us:

How retreat for overseeing officers will aid NASENI’s developmental goals

By Chioma Obinagwam The National Agency for Science and Engineering Infrastructure, NASENI,...

Again Ikeja Electric customers experience frustration in recharging energy tokens

By Chioma Obinagwam Customers of Ikeja Electric Distribution Company (DisCo) have been...

Advertisements