Regulatory Alerts2019-02-25
Illegal Fund Manager – Dantata Success and Profitable Company
The Nigerian Securities and Exchange Commission sealed the business premises and froze the bank accounts of Dantata Success & Profitable Company (DSPC) for operating as an unregistered and unauthorized fund manager in the capital market. The company collected substantial investor funds through Kano radio broadcasts under a structured investment scheme, directly contravening Sections 38(1) and 67(1) of the Investments and Securities Act. The Commission publicly warns investors to verify the registration status of DSPC and its representatives before subscribing to investment schemes, directing them to an official online registry for verified operators.
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