SEC seals Stockmatch Investments Ltd
By Patience Ikpeme
Stockmatch Investments Ltd in Maiduguri, Borno State had its premises sealed by the Securities and Exchange Commission (SEC) on Tuesday.
The company’s office in Wulari Plaza on Lagos Street was closed down for allegedly conducting unauthorized investment activities that qualify as fund management, without being registered with the SEC.
A statement by the commission was released on Tuesday in Abuja.
According to the SEC, “this company does not have registration of the SEC to conduct fund management activities and has been found to promise exorbitant rates of returns to lure investors. The SEC has exercised its powers under Section 13 (w) Investments and Securities Act 2007, to shut it down”.
“The commission hereby notifies the investing public that neither this entity nor its investment platforms are registered by the SEC.
“The public is hereby reminded that it is unlawful for any private enterprise whether incorporated as a company or not, to solicit funds from the public by whatever means, to fund its private ventures as doing this will be in contravention of the Investments and Securities Act, 2007″.
The SEC strongly recommended that the public verify with the commission whether a company offering investment services is registered and if their investment schemes have been authorized.
They cautioned that individuals who engage with unregistered entities are assuming their own risk.
The commission also emphasized the importance of exercising caution and conducting thorough research when making investment choices. A list of valid operators can be obtained on its website www.sec.gov.ng.
