SEC Warns Against Activities of Illegal Operators

Proshare

Friday, June 1, 2018/01:50PM /SEC

The general public is hereby once again advised to beware of illegal operators and promoters of ponzi and other fraudulent schemes. Furthermore, the general public is advised to exercise utmost caution and conduct adequate due diligence, e.g. seeking professional advice and checking the Commission’s website to confirm the registration status of company/individuals marketing any products to them before taking a decision to invest.

Please be further advised that while the Commission is under a duty to protect investors, a duty which it has continued to discharge, such duty does not include recovering funds for investors who against reason and public notices such as this, invest in products promoted by unregistered/unregulated entities. At best, the Commission will work with law enforcement agencies to bring promoters of such schemes to book and no more.

Section 38(1) of the Investments and Securities Act, 2007 requires any person who intends to operate as a professional in the capital market or carry on securities business to be registered by the Commission before engaging in such activities. It is therefore illegal to carry on any kind of capital market business without registration or to patronize such  person.

In view of the above, the general public is hereby WARNED that any person dealing with any such persons in any capital market/investment related business is doing so at his/her own risk.


Proshare Nigeria Pvt. Ltd.



Related News

1.          SEC Issues Public Alert on the Activities of An Online Investment Scheme

2.         SEC Issues Investors Alert Over the Activities of Partnership Inv. Co. Plc and Its Subsidiaries

3.         Dismissal Of UK Serious Fraud Office Charges Against Barclays PLC And Barclays Bank PLC

4.         The UK House Of Commons Foreign Affairs Select Committee Russian Money Laundering Report

5.         3  Must Know Digital Tips for Potential Whistleblowers

6.         Online Crimes – Nigerian Confraternities Emerge As Business E-Mail Compromise Threat

7.         UK’s FCA Secures Confiscation Orders Totalling £1.69m Against Convicted Insider Dealers

8.        Barclays Now Subject To Special Requirements Regarding Whistleblowing Systems And Controls

9.         ICPC Charges Gwarzo, Former SEC Nigeria DG over 2015 N105mn Severance Package; N10mn Car Grant For Every Bribe Taken, There Is A Bribe Given

 

READ MORE:
Related News
SCROLL TO TOP