SEC’S new rules will affect investment-tech platforms
Nigeria’s Securities and Exchange Commission (SEC) has made new rules which will affect Nigeria’s investment-tech platform.
In the last couple of years, platforms that allow Nigerians to buy stocks on stock exchanges in America have become popular. They partner with companies like Drivewealth, a cloud-based, API-driven brokerage infrastructure that handles the trading on their behalf.
Yet, in December 2020, there was some sign of regulator trouble when the SEC barred an investment-tech platform, Chaka. It ordered Chaka to stop advertising to the public and said their activities were outside the commission’s regulatory purview.