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SEC approves five fintech coys as capital market operators



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.

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