THE Securities and Exchange Commission (SEC) has sealed off the premises of Growing Circle in Lagos for engaging in illegal fund management activities. According to the Commission, the company was shut down for carrying out investment operations that fall within fund management without registration with the apex regulator. The commission had established that the company’s activities also constituted an infraction of the Investments and Securities Act (ISA), 2007. “For anyone to come under the company, he has to come under an up liner since the company engages in networking business. The Commission wishes to notify the investing public that the company is not licensed to carry out investments business of any type and as such its operations are illegal.

Source: Nigerian Tribune February 19, 2019 17:26 UTC