FOR defaulting in measuring up to its statutory
requirements, the Securities and Exchange Commission (SEC) has withdrawn
the licence of 35 capital market operators.
This is contained in a Public Notice posted on the official website of SEC.
The revocation of the operating licence of the stockbroking firms, on Thursday, resulted in panic measure by investors, who besieged the Central Security Clearing System (CSCS) to cross-check whether their investments were intact with the depository agency.
The notice read in part: “The general public is hereby notified that the registration of the underlisted capital market operators has been withdrawn.
:The Nigerian Stock Exchange (NSE), the Chartered Institute of Stockbrokers (CIS), the Institute of Capital Market Registrars (ICMR) and the Central Securities Clearing Systems Ltd (CSCS) are hereby directed to desist from dealing with them.”
The commission also said that the action was to protect the interest of the investing public.
The affected companies include: AAA Stockbrokers Ltd, Alliance Capital Management Co. Ltd, Apex Securities Ltd, Asset Plus Securities Ltd, BFCL Assets Securities Ltd, BACAD Finance & Investment Co. Ltd, BIC Securities Ltd, City Finance & Securities Ltd, Colvia Securities Ltd, Epic Investment Trust Ltd, Equator Securities & Finance Ltd, First Atlantic Securities Ltd, Folu Securities Ltd, Genesis Securities Ltd,New Horizons Securities Ltd.
, H.P. Securities Ltd, Ideal Securities & Investment Ltd, Indemnity Finance Ltd, Imperial Securities & Investment Ltd, Jamko Investments Ltd, Jenkins Investments Ltd, Midland Capital Markets Ltd, Midlands Investment & Trust Co. Ltd and Morgan Trust & Asset Management Plc.
This is contained in a Public Notice posted on the official website of SEC.
The revocation of the operating licence of the stockbroking firms, on Thursday, resulted in panic measure by investors, who besieged the Central Security Clearing System (CSCS) to cross-check whether their investments were intact with the depository agency.
The notice read in part: “The general public is hereby notified that the registration of the underlisted capital market operators has been withdrawn.
:The Nigerian Stock Exchange (NSE), the Chartered Institute of Stockbrokers (CIS), the Institute of Capital Market Registrars (ICMR) and the Central Securities Clearing Systems Ltd (CSCS) are hereby directed to desist from dealing with them.”
The commission also said that the action was to protect the interest of the investing public.
The affected companies include: AAA Stockbrokers Ltd, Alliance Capital Management Co. Ltd, Apex Securities Ltd, Asset Plus Securities Ltd, BFCL Assets Securities Ltd, BACAD Finance & Investment Co. Ltd, BIC Securities Ltd, City Finance & Securities Ltd, Colvia Securities Ltd, Epic Investment Trust Ltd, Equator Securities & Finance Ltd, First Atlantic Securities Ltd, Folu Securities Ltd, Genesis Securities Ltd,New Horizons Securities Ltd.
, H.P. Securities Ltd, Ideal Securities & Investment Ltd, Indemnity Finance Ltd, Imperial Securities & Investment Ltd, Jamko Investments Ltd, Jenkins Investments Ltd, Midland Capital Markets Ltd, Midlands Investment & Trust Co. Ltd and Morgan Trust & Asset Management Plc.
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