Connect with us

BUSINESS

SEC disowns AIMS Asset Management and its Investors over private placement deals

Published

on

sec takes dividend campaign to south east

The Security and Exchange Commission (SEC) has distanced itself from the activities of AIMS Asset Management and its investors over some private placement deals which the Commission described as not being under its regulatory purview.

In a statement issued by the SEC, the commission said it “received various complaints against AIMS Asset Management Limited who solicited and marketed private placements for two private companies namely Petdrill Development Company Limited and Aims Assurance Company Limited”.

The Commission said while investigating the activities of AIMS Asset Management Limited (a registered Capital Market Operator), it observed that the said private placements and the securities of the private companies were not under the regulatory purview of the Commission.

“In view of the above, the general public is hereby informed, that the Commission does not regulate private placements by private companies and therefore, the respective investors are advised to contact the said companies for their share certificates”

This disclaimer by SEC further stress the fact that private placement of shares by private companies are not covered or regulated by the Security and Exchange Commission.

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective.The Verge Communications (NEWSVERGE) is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

Comments