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Tue, Aug 29, 2023 8:50 PM

SEC Shuts Down Stockmatch Investments for Illegal Investment Activities

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SEC Shuts Down Stockmatch Investments for Illegal Investment Activities
Nigeria's Securities and Exchange Commission (SEC) has sealed the premises of Stockmatch Investments Limited in Maiduguri, Borno State, for engaging in illegal investment activities. The company allegedly conducted fund management operations without proper registration, promising exorbitant returns to lure investors. The SEC is committed to preventing unregistered entities from participating in capital market functions. The public is advised to verify the registration of investment service providers and exercise caution when making investment decisions.

In a move to safeguard the interests of investors and maintain the integrity of the capital market, Nigeria's Securities and Exchange Commission (SEC) has taken action against Stockmatch Investments Limited. The SEC sealed the company's premises in Maiduguri, Borno State, for allegedly engaging in illegal investment activities.

Stockmatch Investments, located in Wulari Plaza on Lagos Street, Maiduguri, was shut down for conducting fund management operations without the necessary registration by the SEC. The company is accused of promising high returns to entice unsuspecting investors. Such activities are strictly regulated in order to protect investors and ensure fair practices within the capital market.

The SEC, under its powers granted by Section 13 (w) of the Investments and Securities Act 2007, has closed Stockmatch Investments and alerted the public to its unregistered status. The commission emphasizes that neither the company nor its investment platforms are authorized by the SEC.

In a statement released by the SEC, the investing public is reminded that soliciting funds from individuals by any means for private ventures is illegal and violates the Investments and Securities Act, 2007. The commission urges individuals to exercise due diligence and verify the registration status of investment service providers before engaging with them.

The SEC advises the investing public to consult its official website, www.sec.gov.ng, to access a list of valid operators and authorized investment schemes. By seeking information from authorized sources, potential investors can mitigate the risk of falling victim to fraudulent investment schemes.

The commission's actions against Stockmatch Investments reinforce its commitment to clamp down on unregistered entities and bring an end to illegal investment activities. Protecting the investing public and fostering trust in the capital market are key priorities for the SEC.

Investors are urged to be cautious and diligent when making investment decisions. The allure of high returns should not overshadow the need to verify the legitimacy of investment opportunities. The SEC reminds the public that engaging with unregistered entities comes with inherent risks and potential loss of invested funds.

By raising awareness about the risks associated with unregistered investment activities, the SEC aims to create an environment where investors can confidently participate in the capital market while being safeguarded from fraudulent activities.

Source of content: OOO News 2023-08-29 News

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