SEC lifts suspension on Heritage Capital Markets

SEC lifts suspension on Heritage Capital Markets

Close to three months after it announced a suspension on Heritage Capital Markets, the Nigerian Securities and Exchange Commission said it has lifted a ban on the company.

In an official statement released by the Commission:

“The Securities and Exchange Commission on Wednesday February 1, 2017 lifted the suspension of Heritage Capital Markets Ltd together with its Directors and Sponsored Individuals”.

It could be recalled that the SEC announced in December 2016 that Heritage Capital was suspended indefinitely for “unauthorized sale of shares belonging to an investor and its refusal to comply with the Commission’s directives in that regard”.

“In view of the above, the general public is hereby INFORMED that the suspension is indefinite and shall remain in force pending the resolution of the matter against the Operator” said the SEC

According to its website, Heritage Capital Markets Limited is licensed by The Nigerian Stock Exchange, Securities & Exchange Commission and FMDQ to operate as broker/dealer in the Capital Market and to offer brokerage services in fixed income securities.

The Company was incorporated on 24th November 1997 and now has an authorized share capital of NGN2,000,000,000 in shares of NGN1.00 each and shareholders’ fund in excess of NGN1,000,000,000.

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