Securities and Exchange Commission (SEC) has said it was able to recover about 1,662 share certificates from the Alliance Capital Management Company Limited (ACMCL),due to 250 complaints against the ACMCL between June 2007 and March 2010.
According to the commission preliminary investigation was conducted and lead to the ouster of the Managing Director of the company, Edward Koki from participating in the capital market for life in line with the Provisions of Rule 20 (B) of SEC Rules and Regulations 2007.
SEC also stated that the company’s investors with the right prove of ownership should be free to come forward and claim their certificate while noting that the period of collection will be between April 8, 2016, till July 8, 2016.
“Please you are advised to come with proof of ownership and a valid means of identification such as international passport, driver’s license, national I.D card or permanent voter’s card,” SEC advises
Securities and Exchange Commission is a ferderal body solely established to cross check and propose the right timing for companies seeking to increase capital from the capital market to prevent issues that can cause the market capacity to overstretch.
Curated from Guardian
