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Illegal Investment: SEC Blacklists Six Online Trading Platforms

 

 

The Securities and Exchange Commission (SEC) has said it has blacklisted six online trading platforms in its latest crackdown on illegal and unregistered firms purporting to offer investment and finance services and products.

The blacklisted firms include Prime Invest and “Primeinv.co, FXBoxed, New Finance LLC and New Fx Limited, Axi24, Evolve Consulting LCC and Trust Fund- Mining Global Pty Limited.

In a circular issued on Monday, the Commission stated “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. They are not registered by the SEC Nigeria and the financial services offered by them are also not authorized.

“Members of the public are advised to adopt the greatest diligence in making investment choices. In view of the above, the general public is hereby warned that any person dealing with the above mentioned e-commerce websites is doing so at his or her own risk,” the SEC stated.

The SEC had earlier warned the public against patronising a set of firms blacklisted by Italy’s securities regulator, Commissione Nazionale per le Soecieta’ e la Borsa (CONSOB).

CONSOB had blacklisted five additional e-commerce websites for offering unauthorised and fraudulent financial services. The blacklisted websites included CMS or capmarketstrategy.io, Bitsterzio, Invest Atlas, Ether-Arena Limited and Ether-Arena Limited operating under veneab.co.

CONSOB had ordered Internet Service Providers (ISP) operating in Italy to block public access to the blacklisted websites and called on prospective investors to adopt the greatest diligence in making investment choices.

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