Securities Business
SEC sets deadline for crowdfunding platforms registration
File Photo The Securities and Exchange Commission has directed all existing investment crowdfunding portals/digital commodities investment platforms to note the requirements and eligibility criteria for raising funds through and/or operating a Crowdfunding Portal and comply with the registration requirements or cease operations by the 30th of June, 2021. This was contained in a notice released by the Commission on Wednesday. According to the SEC, the rules governing Crowdfunding business in Nigeria came into effect on the 21st day of January, 2021, which was part of efforts by the Commission to ensure investor protection while encouraging innovation in the conduct of securities business. “In line with the transitional provisions of the Rules, all persons/entities operating an investment cr...
