Companies Facing Enforcement Action, 2016

Enforcement Actions 2016

 

 

 

 

 

 

Companies Facing Enforcement Action (As at March, 2015)

S/N Name of Company Nature of Enforcement Action Reason Date Remarks
6 Strand Capital Partners Limited and its sponsored individuals Suspension (Now Lifted)

 

Satisfactory resolution of all complaints and issues with the Commission by the Operator.

August 20, 2015 Note and deal with the Operator in line with the approval
5 Standard Alliance Capital & Asset Management Ltd Suspension (Now Lifted)

 

 Complied with SEC Rules / Regulations   August 10, 2015 Reinstated as Issuing House & Fund Mananger
4 Cowry Asset Management Limited and its Sponsored Individuals Suspension (Now Lifted)

 

Failure to honour its underwriting obligation in accordance with Rule 318 (2) of SEC Rules and Regulations. August 25, 2015 Suspension was lifted on September 10, 2015
3 International Standards Securities Limited (with its Directors and Sponsored Individuals) Suspension non-compliance with SEC Rules / Regulations and deficiencies observed in its operations during a target inspection March 10, 2015 Still in force

(indefinitely)

2 Woodland Capital Market Plc together (with its Directors and Sponsored Individuals) Suspension (Now lifted) unauthorized sale of 3,750 units of PZ Plc shares belonging to an investor and its refusal to comply with the Commission’s directives in that regard March 10, 2015  Suspension was lifted on April 14, 2015
1 Elyon Asset Management Limited (and its Sponsored Individuals) Suspension breach of extant capital market Rules and Regulations. February 12, 2015 Still in force 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Companies Facing Enforcement Action (As at March, 2011)

S/N Name of Company Nature of Enforcement action Reason Date of Suspension Remarks
1 Sikon Securities Limited Suspension Unauthorised sale of clients shares November 2,2009 Still in force
2 Fortress Capital Limited Suspension

(Now lifted)

Unauthorised sale of shares belonging to client. March 4,2011 Suspension was been lifted on July 13, 2011
3 Monument  Securities & Finance Limited Suspension Unauthorised sale of shares belonging to client. March 4,2011 Suspension was lifted on June 12, 2015
4 Midland Capital Market Limited Suspension Failure to pay client return on investment and part of the principal sum invested. March 15,2011 Still in force
5 Foresight Securities and Investment Limited Suspension Breach of share purchase and resell agreement entered into with client March 4,2011 Still in force
6 AAA Stockbrokers Limited Suspension Unethical capital market conduct April 2006 Closed business
7 Beachgrove Securities Limited License revoked Unethical capital market conduct 2007 Closed business
8 Akitorch Securities Limited License revoked Unethical capital market conduct 2007 closed business
9 Midlands Investment and Trust Co. Ltd. Suspension

 

Yet to pay penalty for non-rendition of quarterly returns June 8,2010 Still in force
10 Mayfield Investment Ltd. Suspension Yet to pay penalty for non- rendition of quarterly returns June 8,2010 Still in force
11 First Integrated Capital Management Ltd. Suspension Yet to pay penalty for non- rendition of quarterly returns June 8,2010 Still in force
12 Epic Investment Ltd. Suspension Yet to pay penalty for non-rendition of quarterly returns June 8,2010 Still in force
13 Zuma Securities Ltd. Suspension Yet to pay penalty for non-rendition of quarterly returns June 8,2010 Still in force
14 SLAMAD Securities Ltd Suspension Yet to pay penalty for non-rendition of quarterly returns June 8,2010 Still in force
15 Dolbic Finance Ltd Suspension Yet to pay penalty for non-rendition of quarterly returns June 8,2010 Still in force
16 IMTL Securities  Ltd Suspension Yet to pay penalty for non-rendition of quarterly returns June 8,2010 Still in force
17 Tropics Securities  Ltd Suspension Yet to pay penalty for non-rendition of quarterly returns June 8,2010 Still in force
18 Wema Securities & Finance Plc Suspension Yet to pay penalty for non- rendition of quarterly returns May 10,2010 Still in force
19 New Horizon Securities  Ltd Suspension Yet to pay penalty for non-rendition of quarterly returns June 8,2010 Still in force
20 Lynac Securities  Ltd Suspension Yet to pay penalty for non- rendition of quarterly returns June 8,2010 Still in force
21 Indemnity Finance Ltd Suspension Yet to pay penalty for non- rendition of quarterly returns June 8,2010 Still in force
22 Global Investment

and Securities  Ltd

Suspension Yet to pay penalty for non- rendition of quarterly returns June 8,2010 Still in force
23 IT IS Securities  Ltd Suspension Yet to pay penalty for non-rendition of quarterly returns June 8,2010 Still in force
24 HP Securities Ltd Suspension Yet to pay penalty for non-rendition of quarterly returns June 8,2010 Still in force
25 Folu securities Ltd

 

Suspension Yet to pay penalty for non- rendition of quarterly returns June 8,2010 Still in force
26 First Marina Trust Ltd Suspension Yet to pay penalty for non- rendition of quarterly returns June 8,2010 Still in force
27 First Marina Trust Ltd Suspension Yet to pay penalty for non- rendition of quarterly returns June 8,2010 Still in force
28 Equator Stockbrokers Ltd Suspension Yet to pay penalty for non rendition of quarterly returns June 8,2010 Still in force
29 City Finance and Securities Ltd Suspension Yet to pay penalty for non- rendition of quarterly returns June 8,2010 Still in force
30 Riverside Trust Ltd Suspension Yet to pay penalty for non –rendition of quarterly returns June 8,2010 Still in force
31 Peak Securities  Ltd Suspension Yet to pay penalty for non- rendition of quarterly returns June 8,2010 Still in force
32 Omnisource Intl. Ltd Suspension Yet to pay penalty for non- rendition of quarterly returns June 8,2010 Still in force
33 Professional Stockbrokers Ltd Suspension Yet to pay penalty for non- rendition of quarterly returns June 8,2010 Still in force
34 Kingsway Securities Ltd Suspension Yet to pay penalty for non rendition of quarterly returns June 8,2010 Still in force
35 Richmond Securities Ltd Suspension Yet to pay penalty for non- rendition of quarterly returns June 8,2010 Still in force
36 Niche Securities Ltd Suspension Yet to pay penalty for non- rendition of quarterly returns June 8,2010 Still in force
37 Viva Securities Limited License revoked Unethical Capital Market practices 2007 Closed business
38 Halsec Securities Limited License revoked Unethical Capital Market practices 2007 Closed business
39 Asset Plus Securities Limited License revoked Unethical Capital Market practices 2007 Closed business