SEC warns on proliferation of unregistered online platforms

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

This was contained in a circular to Market Operators issued by the Management of on Thursday in .

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

“These platforms also claim to be operating in with Market operators (CMOs) registered with ”.

categorically stated further 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 may be issued, sold or offered for sale or subscription to the Nigerian public.

Sign Up Now

ePaper Subscription

Be the first to comment

Leave a Reply

Your email address will not be published.