SEC Suspends Private Firm, To Publish Names Of Operators In Journal
The Securities and Exchange Commission (SEC) has intensified its regulatory enforcement in the capital market, taking decisive action against operators found to be in violation of established rules and regulations. As part of a broader initiative planned for 2025 to combat unlawful activities, the SEC has announced the suspension of Centurion Registrars and revoked the registration of Mainland Trust Limited. Mainland Trust Limited's annulment stems from regulatory non-compliance and unresolved complaints. For Centurion Registrars, the SEC is directing all clients to seek assistance from Africa Prudential Plc. Furthermore, the SEC will be publishing a "Name and Shame" journal disclosing the identities of capital market operators who breach market regulations. This publication serves as an additional punitive measure alongside existing sanctions and penalties outlined in the ISA 2007 and SEC rules. The SEC emphasizes that these actions reflect its commitment to maintaining market integrity and enforcing stricter compliance within the capital market. This is supported by newly updated enforcement strategies to combat violations. This announcement is a warning against capital market infringements.
