Licenses of 35 Nigerian Capital Market Operators Withdrawn By SEC

Business News (Finance) — About 35 capital market operators in Nigeria on Thursday had their Licenses withdrawn by the Securities and Exchange Commission (SEC) for non-compliance to statutory requirement.
This is contained in a Public Notice posted on the official website of SEC.
The notice reads 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part: “The general public is hereby notified that the registration of the underlisted Capital Market Operators has been withdrawn.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 notice said.
According to the Commission, the action is to protect the interest of the investing public.

The 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 and, Equator Securities & Finance Ltd,
Other are 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.
Also affected are Richmond Securities Ltd, Riverside Trust Ltd, Rivtrust Securities Ltd, Standard Alliance Money Ltd, Sikon Securities & Investment Trust Ltd, Transglobe Investment & Finance Ltd, Thomas Kingsley Securities Ltd, TMB Securities Ltd, Tropics Securities Ltd, Primewealth Securities Ltd and Negotiable Finance Ltd.
However, the commission has advised shareholders that still have their portfolios under the listed Capital Market Operators to contact the CSCS Ltd to transfer their shares to any Stockbroker of their choice.-Leadership

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