May 02, (THEWILL) – The Securities and Exchange Commission (SEC) has blacklisted six online trading platforms.
THEWILL gathered that the development is part of the Commission’s move to crack down on illegal and unregistered firms purporting to offer investment and finance services and products.
“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,” SEC said in a statement on Monday.
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.
“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 Commission warned.
The SEC further 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. It also 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.
The blacklisted websites included CMS or capmarketstrategy.io, Bitsterzio, Invest Atlas, Ether-Arena Limited and Ether-Arena Limited operating under veneab.co.
