The Securities and Exchange Commission (SEC) has issued a warning to investors regarding the activities of Risevest (Victoria Island) Cooperative Multipurpose Society Limited, identifying it as an unregistered operator in the Nigerian capital market.
Investor Advisory
The SEC advises investors to exercise caution and to verify the registration status of any entity before engaging in investment activities. Investors can confirm the legitimacy of companies by consulting the list of registered capital market operators available on the SEC’s official website.
Regulatory Framework
In January 2021, the SEC introduced crowdfunding rules to regulate investment platforms and protect investors. The Commission mandated that all crowdfunding platforms register by June 30, 2021. Operating an unregistered platform is illegal and may result in prosecution and potential loss of investor funds.
Investors are urged to remain vigilant and to conduct due diligence before participating in any investment schemes. The SEC remains committed to safeguarding the integrity of the Nigerian capital market and protecting investors from fraudulent activities.
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