By Modupe Gbadeyanka
Several complaints are currently trailing a fund/portfolio manager in the capital market, AIMS Asset Management Limited.
According to the Securities and Exchange Commission (SEC), these complaints centre around the private placements of Petdrill Development Company Limited and AIMS Assurance Company Limited.
In a statement signed by management of the capital market regulator, it said it “received various complaints against AIMS Asset Management Limited who solicited and marketed private placements for two private companies namely Petdrill Development Company Limited and Aims Assurance Company Limited.”
SEC noted that while investigating the activities of the registered Capital Market Operator, it “observed that the said private placements and the securities of the private companies were not under the regulatory purview of the commission.”
“In view of the above, the general public is hereby INFORMED, that the Commission does not regulate private placements by private companies and therefore, the respective investors are advised to contact the said companies for their share certificates,” the statement said.
more recommended stories
Asian Shares Mostly Higher Despite Lack of Fresh Catalysts
By Investors Hub Asian stocks closed.
European Stock Market Close Flat as Euro Rally Halts
By Investors Hub European stocks were.
US Stocks May Record New Highs on Earnings Optimism
By Investors Hub The major U.S..
Banking Stocks Stimulate Market Growth by 2.17%
**As Investors Gain N335b By Modupe.