{"id":48054,"date":"2021-04-08T17:41:29","date_gmt":"2021-04-08T16:41:29","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=48054"},"modified":"2021-04-08T17:41:29","modified_gmt":"2021-04-08T16:41:29","slug":"warns-on-proliferation-of-unregistered-online-platforms","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-platforms\/","title":{"rendered":"SEC Warns On Proliferation Of Unregistered Online Platforms"},"content":{"rendered":"<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">The Securities and Exchange Commission 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.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">This was contained in a circular to Capital Market Operators issued by the Management of the Commission in Abuja, Thursday.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">According to the Circular, \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.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">\u201cThese platforms also claim to be operating in partnership with Capital Market operators (CMOs) registered with the Commission\u201d.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">The Commission categorically stated further that by the provisions of Sections 67-70 of the Investments and Securities Act (ISA), 2007 and Rules 414 &amp; 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.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Accordingly, the SEC notified CMOs who work in concert with the referenced online platforms of the Commission\u2019s position and advised them to desist henceforth.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">\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 statement added.<\/div>\n<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div><!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Securities and Exchange Commission 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.<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":23145,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,18],"tags":[575,8451],"coauthors":[2391],"class_list":["post-48054","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-crime","tag-sec","tag-unregistered-investment-platform"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC Warns On Proliferation Of Unregistered Online Platforms - National Wire<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission has warned the investing public on the proliferation of unregistered online investment and tr\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-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 Platforms - National Wire\" \/>\n<meta property=\"og:description\" content=\"The Securities and Exchange Commission has warned the investing public on the proliferation of unregistered online investment and tr\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-platforms\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-08T16:41:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/04\/SEC9.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"678\" \/>\n\t<meta property=\"og:image:height\" content=\"381\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Friday Ekeoba\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-platforms\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/04\/SEC9.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/04\/SEC9.jpg\",\"width\":678,\"height\":381,\"caption\":\"SEC\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-platforms\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-platforms\/\",\"name\":\"SEC Warns On Proliferation Of Unregistered Online Platforms - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-platforms\/#primaryimage\"},\"datePublished\":\"2021-04-08T16:41:29+00:00\",\"dateModified\":\"2021-04-08T16:41:29+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\"},\"description\":\"The Securities and Exchange Commission has warned the investing public on the proliferation of unregistered online investment and tr\",\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-platforms\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-platforms\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-platforms\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SEC Warns On Proliferation Of Unregistered Online Platforms\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927\",\"name\":\"Friday Ekeoba\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Warns On Proliferation Of Unregistered Online Platforms - National Wire","description":"The Securities and Exchange Commission has warned the investing public on the proliferation of unregistered online investment and tr","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-platforms\/","og_locale":"en_US","og_type":"article","og_title":"SEC Warns On Proliferation Of Unregistered Online Platforms - National Wire","og_description":"The Securities and Exchange Commission has warned the investing public on the proliferation of unregistered online investment and tr","og_url":"https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-platforms\/","og_site_name":"National Wire","article_published_time":"2021-04-08T16:41:29+00:00","og_image":[{"width":678,"height":381,"url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/04\/SEC9.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Written by":"Friday Ekeoba","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/nationalwire.com.ng\/sub\/#website","url":"https:\/\/nationalwire.com.ng\/sub\/","name":"National Wire","description":"About Nigerians, Nigerian Business and Other Stories","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-platforms\/#primaryimage","url":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/04\/SEC9.jpg","contentUrl":"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2018\/04\/SEC9.jpg","width":678,"height":381,"caption":"SEC"},{"@type":"WebPage","@id":"https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-platforms\/#webpage","url":"https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-platforms\/","name":"SEC Warns On Proliferation Of Unregistered Online Platforms - National Wire","isPartOf":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#website"},"primaryImageOfPage":{"@id":"https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-platforms\/#primaryimage"},"datePublished":"2021-04-08T16:41:29+00:00","dateModified":"2021-04-08T16:41:29+00:00","author":{"@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927"},"description":"The Securities and Exchange Commission has warned the investing public on the proliferation of unregistered online investment and tr","breadcrumb":{"@id":"https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-platforms\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-platforms\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/nationalwire.com.ng\/sub\/warns-on-proliferation-of-unregistered-online-platforms\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/nationalwire.com.ng\/sub\/"},{"@type":"ListItem","position":2,"name":"SEC Warns On Proliferation Of Unregistered Online Platforms"}]},{"@type":"Person","@id":"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/e2ab303e561d755b325fc9cea3854927","name":"Friday Ekeoba","url":"https:\/\/nationalwire.com.ng\/sub\/author\/friday\/"}]}},"_links":{"self":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/48054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/comments?post=48054"}],"version-history":[{"count":1,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/48054\/revisions"}],"predecessor-version":[{"id":48055,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/posts\/48054\/revisions\/48055"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media\/23145"}],"wp:attachment":[{"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/media?parent=48054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/categories?post=48054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/tags?post=48054"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/nationalwire.com.ng\/sub\/wp-json\/wp\/v2\/coauthors?post=48054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}