SEC Blacklists Six Online Trading Platforms
Six online trading entities have been blacklisted by the Securities and Exchange Commission (SEC), a federal government agency, in its recent crackdown on illegal and unregistered companies that falsely claim to offer investment and financial services or products.
In a statement released on Monday, the Commission emphasized that the banned firms were unregistered and not authorized to provide such investment services. The Commission also urged the public to exercise caution when dealing with these prohibited companies.
Earlier, the Commission had warned the public against conducting business with a group of companies that had been blocked by Italy’s securities regulator, Commissione Nazionale per le Società e la Borsa.
“The Commission’s attention has been drawn to the under-listed e-commerce companies and their websites offering online trading platforms to the investing public. The SEC Nigeria does not register them, and their financial services are also not authorised.
“The blacklisted firms: Prime Invest and “Primeinv.co, FXBoxed, New Finance LLC and New Fx Limited, Axi24, Evolve Consulting LCC and Trust Fund Mining Global Pty Limited,” the statement partly reads.
