SEC licenses Chaka as first FinTech for digital stock trading in Nigeria

SEC licenses Chaka as first FinTech for digital stock trading in Nigeria

SEC licenses Chaka as first FinTech for digital stock trading in Nigeria     After months of uncertainty regarding regulations, Chaka has received a license from Nigeria’s Securities and Exchange Commission (SEC) to operate its digital platform for buying and selling stocks. Chaka becomes the first to acquire the digital sub-broker license introduced by SEC in April of this year. As part of a major amendment to its Consolidated Rules and Regulations, SEC recognised sub-brokers who use digital platforms to serve multiple brokers. Tosin Osibodu, the startup’s CEO, said on…

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SEC bars Chaka from share deals

crowdfunding rules

SEC bars Chaka from share deals   The Security and Exchange Commission (SEC) has restrained fintech company, Chaka Technologies and its promoters from either advertising shares or facilitating its sales. The Investments and Securities Tribunal, (IST) on Thursday 17th December 2020, made interim Orders restraining Chaka Technologies Limited, and its promoters from advertising or offering for sale shares, stock or other securities of companies or other entities. “The interim Orders, which apply to all Chaka platforms, were granted pursuant to an application by the Securities and Exchange Commission,” the regulator…

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