The attention of the Securities and Exchange Commission, Nigeria has been drawn to a report that the Italian securities regulator, (Commissione Nazionale per le Soecieta’ e la Borsa – CONSOB) has blacklisted four (4) e-commerce companies and blocked their websites for fraudulent e-trading and unauthorized offering of financial services. The blacklisted companies and their blocked websites are:
- Tetris Group Limited
- Broker Capitals Limited
- MTinvesting and
- NBIMarkets
The report noted that online financial services providers leverage on the complexity of their operations and limited understanding of most prospective investors to conceal details of their activities, thus, plunging most investors into taking uninformed decisions. The CONSOB therefore called on investors to adopt the greatest diligence to make informed investment choices in order to safeguard their savings, including checking the registration status or otherwise of such companies.
SEC also wishes to draw the attention of the Nigerian investing public that the aforementioned companies are not registered by the SEC Nigeria and the investment scheme promoted by these entities are also not authorized by the SEC.
In view of the above, the general public is hereby WARNED that any person dealing with the named Companies in any capital market related business is doing so at his/her own risk.
Source: SEC blacklists 4 Italian e-commerce companies – StocksWatch (stocksng.com)
