{"id":29490,"date":"2021-04-09T12:42:37","date_gmt":"2021-04-09T11:42:37","guid":{"rendered":"http:\/\/thefreezonechannel.com\/?p=29490"},"modified":"2021-04-09T12:42:37","modified_gmt":"2021-04-09T11:42:37","slug":"sec-warns-on-proliferation-of-unregistered-online-investment-platforms","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/sec-warns-on-proliferation-of-unregistered-online-investment-platforms\/","title":{"rendered":"SEC warns on proliferation of unregistered online investment platforms"},"content":{"rendered":"\n<p>Moses Uwagbale<\/p>\n\n\n<p>The Securities and Exchange Commission (SEC) has warned the investing public on the proliferation of unregistered online investment and trading platforms facilitating access to securities trading in foreign markets.<\/p>\n\n\n<p>This was contained in a circular to the Capital Market Operators (CMOs) issued by the management of the commission in Abuja.<\/p>\n\n\n<p>&nbsp;\u201cThe 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.<\/p>\n\n\n<p>\u201cThese platforms also claim to be operating in partnership with CMOs registered with the Commission,\u201d it said.<\/p>\n\n\n<p>The Commission categorically stated further that by the provisions of Sections 67-70 of the Investments and Securities Act (ISA), 2007 and Rules 414 and 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.<\/p>\n\n\n<p>Accordingly, the commission notified the CMOs who work in concert with the referenced online platforms of the Commission\u2019s position and advised them to desist henceforth.<\/p>\n\n\n<p>\u201cThe 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\u201d the circular added.<\/p>\n\n<!-- wp:themify-builder\/canvas \/-->","protected":false},"excerpt":{"rendered":"<p>Moses Uwagbale The Securities and Exchange Commission (SEC) has warned the investing public on the proliferation of unregistered online investment and trading platforms facilitating access to securities trading in foreign markets. This was contained in a circular to the Capital Market Operators (CMOs) issued by the management of the commission in Abuja. &nbsp;\u201cThe attention of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-29490","post","type-post","status-publish","format-standard","hentry","category-uncategorized","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC warns on proliferation of unregistered online investment platforms - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/sec-warns-on-proliferation-of-unregistered-online-investment-platforms\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC warns on proliferation of unregistered online investment platforms - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"Moses Uwagbale The Securities and Exchange Commission (SEC) has warned the investing public on the proliferation of unregistered online investment and trading platforms facilitating access to securities trading in foreign markets. 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