SEC blacklists six illegal e-commerce platforms

Six online trading companies have been placed on the blacklist by the Securities and Exchange Commission, a federal government agency, as part of its recent crackdown on unregistered and unlawful businesses that purport to provide investing and financial services and products.

The Prohibited Firms were Not Unauthorized to Provide Such Investment Services, the Commission emphasized in a statement on Monday.

The Commission advised the general public to exercise caution when interacting with embargoed companies.

The Italian securities regulator, Commissione Nazionale per le Soecieta' e la Borsa, had barred a number of businesses, and the Commission had advised the public against doing business with them.

“The Commission’s attention has been drawn to the under-listed e-commerce companies and their websites offering online trading platforms to the investing public. The SEC Nigeria does not register them, and their financial services are also not authorised.

“The blacklisted firms: Prime Invest and “Primeinv.co, FXBoxed, New Finance LLC and New Fx Limited, Axi24, Evolve Consulting LCC and Trust Fund Mining Global Pty Limited,” the statement partly reads.

Source