By Adedapo Adesanya
US securities investment startup, Risevest, has announced the completion of its federal registration with the United States Securities and Exchange Commission (SEC) and is now a US Registered Investment Adviser.
In a statement seen by Business Post Nigeria, the company noted that this marked a significant milestone for the company since it began rolling out its products in 2020.
Aside from the recognition brought by the registration, the company will now be open for partnership and expansion not just to users in Nigeria but other parts of the world.
The statement reads in part, “We have some GREAT news! When we started our journey in 2020, our mission was to help our users across Nigeria to build their wealth in dollar-denominated, cash-generating assets like real estate, fixed income, and stocks.
“More than two years later, we are proud to announce that Rise has now completed its federal registration with the US Securities and Exchange Commission (SEC) and is now a US Registered Investment Adviser.”
Speaking on the other benefits that the license brings, Risevest noted, “We can enter into more global partnerships and bring additional offerings to our users. We can now open up the beauty of Rise to users across many other countries, including the US and the rest of Africa.”
This is a silver lining for the company, which has had to weather its fair share of storms this year. Just last month, the company’s Chief Executive Officer (CEO), Mr Eke Urum, was reportedly found guilty of sexual impropriety and abuse of power following the outcome of a six-week investigation into allegations of sexual and non-sexual abuse levelled against him.
A statement noted that, “The evidence presented to the panel could not prove sexual assault by Eke Urum. However, the evidence presented to the panel, including admitted sexual relations with an employee and unwanted, inappropriate jokes and conversations, revealed sexual impropriety. It also showed a pattern of abuse of power, intimidation, retaliation, and workplace bullying by him.”
Dipo Olowookere