{"id":49292,"date":"2021-05-27T17:43:35","date_gmt":"2021-05-27T16:43:35","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=49292"},"modified":"2021-05-27T17:43:35","modified_gmt":"2021-05-27T16:43:35","slug":"sec-sets-june-30-for-crowdfunding-platforms-registration","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/sec-sets-june-30-for-crowdfunding-platforms-registration\/","title":{"rendered":"SEC Sets June 30 For Crowdfunding Platforms Registration"},"content":{"rendered":"<p>The Securities and Exchange Commission has directed all existing investment crowdfunding portals\/digital commodities investment platforms to note the requirements and eligibility criteria for raising funds through and\/or operating a Crowdfunding Portal and comply with the registration requirements or cease operations by\u00a0<a dir=\"ltr\" rel=\"nofollow noopener noreferrer\" shape=\"rect\">the 30<\/a><sup><a dir=\"ltr\" rel=\"nofollow noopener noreferrer\" shape=\"rect\">th<\/a><\/sup><a dir=\"ltr\" rel=\"nofollow noopener noreferrer\" shape=\"rect\">\u00a0of June, 2021<\/a>.<\/p>\n<p>This was contained in a notice released by the Commission Wednesday.<\/p>\n<p>According to the SEC, the rules governing Crowdfunding business in Nigeria came into effect on the 21st day of January, 2021, which was part of efforts by the Commission to ensure investor protection while encouraging innovation in the conduct of securities business.<\/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>\n<p>\u201cIn line with the transitional provisions of the Rules, all persons\/entities operating an investment crowdfunding portal\/digital commodities investment platform prior to the commencement of the rules were expected to restructure all operations in accordance with the requirements of the rules and\u00a0<a href=\"https:\/\/eportal.sec.gov.ng\/login\" target=\"_blank\" rel=\"nofollow noopener noreferrer\" shape=\"rect\">apply for registration<\/a>\u00a0<strong>not later than 90 days from the Effective Date<\/strong><b>.<\/b><b><\/b><\/p>\n<p>\u201cWhile the transitional period elapsed on the 21<sup>st<\/sup>day of April, 2021, the Commission hereby directs all existing investment crowdfunding portals\/digital commodities investment platforms to note the requirements and eligibility criteria for raising funds through and\/or operating a Crowdfunding Portal and comply with the registration requirements or cease operations by\u00a0<a dir=\"ltr\" rel=\"nofollow noopener noreferrer\" shape=\"rect\">the 30<\/a><sup><a dir=\"ltr\" rel=\"nofollow noopener noreferrer\" shape=\"rect\">th<\/a><\/sup><a dir=\"ltr\" rel=\"nofollow noopener noreferrer\" shape=\"rect\">\u00a0of June, 2021<\/a>, failing which the operations of such platform would be categorized as illegal and attract regulatory sanction as stipulated in the Rules\u201d.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>e Securities and Exchange Commission has directed all existing investment crowdfunding portals\/digital commodities investment platforms to note the requirements and eligibility criteria for raising funds through and\/or operating a Crowdfunding Portal and comply with the registration requirements or cease operations by\u00a0the 30th\u00a0of June, 2021.<!-- 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":[23,17],"tags":[8653,575],"coauthors":[2391],"class_list":["post-49292","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-crowd-funding","tag-sec"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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