SEC Probes 5 Capital Market Operators


By Modupe Gbadeyanka

Five capital market operators (CMOs) in the country are presently under investigations, the Securities and Exchange Commission (SEC) has disclosed.

SEC, in a notice published on its website on Wednesday, disclosed that the affected operators are being quizzed over complaints from investors.

According to the commission, the five operators are Bytofel Securities and Trust Limited, Jenkens Investment Limited, Securities Solutions Limited, Wizetrade Capital & Asset Management Limited and Elyon Assets Management Limited.

Consequently, directors and sponsored individuals of the affected operators have been invited to a meeting with SEC at its office at Plot 272, Samuel Ademulegun Adesujo Street, Central Business District, Abuja.

They have been informed to meet at SEC 4th Floor Committee Room and also “go with all relevant documents and any other information that will facilitate the resolution of the matter.”

Though SEC did not state the exact offence of the five CMOs, but there are indications that may be connected unauthorised sale of clients’ shares.

The invited directors and sponsored individuals would be probed from Tuesday, November 15, to Thursday, November 17, 2016.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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