Five financial technology firms have been registered as fully-fledged capital market operators by the Securities and Exchange Commission.
This was revealed at a press briefing following the first Capital Market Committee meeting in 2023 on Thursday.
Giving an update on the development, the Director-General, SEC, Lamido Yuguda, said, the new capital market operators include two crowd-funding intermediaries, two digital stockbrokers and one Robo advisor, (Robo-advisors provide financial planning services through automated algorithms with no human intervention.)
“Five fintech companies have been registered as full-fledged market operators,” Yuguda said.
The full commencement of the regulatory incubation programme for the companies was also announced.