SEC directs Crowd funding firms to register by June 30

The Securities and Exchange Commission (SEC) has directed all existing investment crowdfunding portals/digital commodities investment platforms to register with the commission or cease operations by June 30.

A statement by the commission in Abuja said the rules governing crowdfunding business in the country came into effect in January.

Crowd funding is to fund a project or venture by raising money from a large number of people who each contribute a relatively small amount, typically via the internet.

The commission said the rules were part of efforts by SEC to ensure investors’ protection while encouraging innovation in the conduct of securities business…………TO CONTINUE READING CLICK ON

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