Lagos - The Securities and Exchange Commission (SEC) is preparing sanctions against public companies that are yet to register their shares with the commission in violation of the Investments and Securities Act (ISA) 2007.
All erring companies have up till June 30 to register with the SEC or they risk being sanctioned, reports Thisday.
Issuing the warning, the commission said there have been increasing reports of unregistered public companies selling shares to unsuspecting members of the investing public.
ISA empowers the SEC to register the securities of all public firms that have more than 50 shareholders.
Read more at Thisday
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