Companies Facing Enforcement Action, 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 |