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SEC summons 63 operators over registration status

To match Special Report SEC/INVESTIGATIONS

The Securities and Exchange Commission (SEC) has summoned 63 firms and individuals operating in the capital market to address issues relating to their registration status.

Analysts say this may be connected with last year’s exercise when SEC directed all registered Capital Market Operators (CMOs) to check the consolidated list of operators and formally report any change of status different from what the list contained.

They were also requested to note the gaps in their registered information and provide required details, such as changes relating to address, name, email, directors and CEOs, while those relating to resignation or transfer of sponsored individuals were also expected to be communicated in a provided form.

The affected firms/individuals and their functions are Arnold Portfolio Company (individual investment adviser), Austin Mwana & Co (solicitor), Ayo Kasumu & Co (solicitor), Balogun & Balogun (solicitor), Bendu Peter Service Nigeria Limited (investment adviser), Capital Chambers (solicitor), Chancery Advocates (solicitor), and Chika Egwuatu & Partners (estate valuer).

Others are Co-Link Investment & Management Company Limited  (investment adviser and reporting accountant), Cosmic Chambers (solicitor), Dambale (Nigeria) Limited (corporate investment adviser), Danladi Bamaiyi & Co (solicitor), David & Moore (solicitor), E. Duro Alalade & Co (reporting accountant), Eddy Okpiabhele & Co (solicitor), Equibond Securities Limited (investment adviser), and Equinox Asset Management Limited (investment advisers and portfolio manager).

Also, the firms/individuals that have been summoned by SEC and given a maximum of two weeks from March 31, 2014 (date of the notice) to make appropriate submissions include Ezugo Isiadinso & Partners (quantity surveyor), FB Asset Management Limited (portfolio manager and investment advisers), Femi Ajijala & Co (reporting accountants and investment advisers), Frank Ilonyosi & Co (solicitor), H. B. Fabunmi & Co (solicitor), Hassan, Nakpodia & Co (reporting accountant), Heap Investment Limited (investment adviser), and Honey Comb Asset Management Limited (fund/portfolio manager).

Others are Irving & Bonnar (solicitor), Jubilee Global Fund plc (fund manager), Kendall Securities Limited (broker/dealer), Lakesworth Investment & Security Limited (broker/dealer), LASACO Assurance plc (in-house registrar), Lateef O. Fagbemi & Co (solicitor), Leadway Assurance Co. Limited (investment adviser & portfolio manager), Ibrahim Bata Malgwi Haruna (solicitor), MGI Alabi, Ekundare (reporting accountant), MICC Consult-Mashasha Investment & Commerce Co. Limited (investment adviser), Mohammed Yamah & Co (solicitor), Mojibola Oluwa & Co (reporting accountant), O. Thomas & Co (solicitor), Olajuwon Omotimirin & Associates (solicitor), Olusegun Olunuga & Co (reporting accountant), and Olusola Ibidapo-Obe & Co (solicitor).

Also summoned by the capital market regulator over the status of their registration include Olutayo Adenekan & Co (reporting accountant), Oluwole Akanle & Co (solicitor), Osindero Oni & Lasebikan (reporting accountant), Osunbade, Okiti & Co (investment adviser and reporting accountant), Pan Securities Limited (portfolio manager and issuing house), Petroleum Investment Management Limited (corporate investment adviser), Platinum Capital Limited (issuing house, broker/dealer and fund/portfolio manager), Prudential Securities Limited (broker/dealer), Regency Financings Limited (broker/dealer), and S. S. Afemikhe & Co (reporting accountant).

Also in the list are Seclink Nigeria Limited (investment adviser), Sekat Company (individual investment adviser), Shoroye & Associates (solicitor), Smith, Sule & Associates (reporting accountant), Solace Chambers (solicitor), Stan Consultants Nigeria (individual investment adviser), Supo Ojo & Co (estate surveyor), Synergy Investment & Securities Limited (registrars, trustees, investment advisers and fund/portfolio managers), T. A. Oke (individual investment adviser), Tochukwu Onwugbufor & Co (solicitor), Victor & Charles (solicitor), and Visa Investments & Securities Limited (portfolio manager).

Iheanyi Nwachukwu