Our Technology
Compliance & Regulatory Disclosures
At Innova Securities Limited, we uphold the highest standards of financial integrity, regulatory compliance, and investor protection. As a technology-driven, capital market operator, our mission is not only to democratize access to investing but to do so with transparency, accountability, and a deep commitment to the rule of law and industry best practices.
Here is a detailed breakdown of our compliance framework and regulatory standing:
Our mission is to democratize access to global and local investment opportunities using technology. We combine decades of experience in traditional finance with cutting-edge platforms to deliver the future of investing today.
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1. Licensed by the Securities and Exchange Commission (SEC), Nigeria
Innova Securities Limited is fully licensed and regulated by the Securities and Exchange Commission (SEC) of Nigeria, the apex regulatory authority for the Nigerian capital markets. Our Broker/Dealer license authorizes us to facilitate buying, selling, and dealing in financial securities on behalf of our clients.
This licensure mandates adherence to stringent operational, capital adequacy, and risk management requirements. We are subject to periodic audits, reporting obligations, and inspections by the SEC to ensure full compliance with regulatory expectations. Our clients benefit from this oversight, knowing that their investments are managed within a robust legal framework.
2. Member of the Nigerian Exchange Group (NGX)
We are an active and proud member of the Nigerian Exchange Group (NGX). This membership allows us to execute trades directly on the exchange, including equities, bonds, Exchange-Traded Funds (ETFs), and other tradable instruments.
Membership with the NGX comes with obligations to uphold fair dealing, market transparency, and orderly conduct in all transactions. Our trading systems and internal controls are integrated with the NGX to ensure seamless execution, price accuracy, and efficient settlement.
This licensure mandates adherence to stringent operational, capital adequacy, and risk management requirements. We are subject to periodic audits, reporting obligations, and inspections by the SEC to ensure full compliance with regulatory expectations. Our clients benefit from this oversight, knowing that their investments are managed within a robust legal framework.
3. Regulated as a Capital Market Operator (Broker/Dealer License)
Our status as a registered Capital Market Operator authorizes us to provide investment services to retail, institutional, and high-net-worth clients. This includes:
- Executing trades on behalf of clients
- Providing access to both local and international capital markets
- Offering advisory services in accordance with regulatory provisions
- Facilitating investment in stocks, government and corporate bonds, commercial papers, ETFs, commodities, and other financial instruments
- All data encrypted at rest and in transit
- Compliance with Nigeria Data Protection Act (NDPA)
Our compliance with this licensing regime includes strict Know-Your-Customer (KYC), Anti-Money Laundering (AML), and customer protection obligations. We are committed to acting in the best interest of our clients at all times.
4. Segregation of Client Funds with Custodian Institutions
To protect our clients and their assets, all investor funds and securities are held with registered third-party custodians and Central Securities Depositories (CSDs), including:
- Central Securities Clearing System (CSCS) for listed equities and bonds
- Registered banks and trustees for custodial and clearing services
We do not commingle client assets with company operating funds, as mandated by the SEC and NGX. This ensures that client assets remain safe and retrievable, even in the unlikely event of any financial distress or operational issue affecting our firm.
5. Anti-Money Laundering (AML) & Combating the Financing of Terrorism (CFT) Compliance
We have implemented comprehensive AML/CFT programs in full compliance with:
- The Money Laundering (Prohibition) Act 2022
- The Terrorism (Prevention) Act 2022
- Guidelines issued by the Nigerian Financial Intelligence Unit (NFIU), SEC, and Central Bank of Nigeria (CBN)
- International standards such as those issued by the Financial Action Task Force (FATF)
Our AML framework includes:
- Risk-based KYC and Customer Due Diligence (CDD)
- Ongoing transaction monitoring with advanced analytics
- Suspicious Transaction Reporting (STR) protocols
- Regular staff training and annual independent audits
We also maintain up-to-date sanction screening tools and Politically Exposed Persons (PEP) detection systems to ensure full compliance with both local and international obligations.
6. Robust Cybersecurity & Technology Governance
As a technology-first broker-dealer, our platforms are secured using advanced encryption, secure cloud infrastructure, and real-time monitoring tools. We align our cybersecurity practices with global standards such as ISO/IEC 27001 and NIST frameworks.
Innova Securities conducts frequent penetration testing, vulnerability scans, and data loss prevention exercises. User data and transactions are encrypted in transit and at rest, and we operate a multi-layered incident response plan to address potential breaches swiftly and effectively.
7. Trove – A Regulated Product Powered by Innova Securities
Trove is a digital investment platform that allows users to access both local and international markets from their mobile devices. While the Trove app is operated by Trove Technologies Ltd., all securities-related services provided through the platform are powered by Innova Securities, a fully licensed broker-dealer.
Trove’s affiliated entities include:
- Trove Technologies Ltd. – Digital platform provider
- Trove Trading Services Ltd. – Additional operations support
- Innova Securities Ltd. – Broker-dealer of record
This partnership ensures that while Trove provides intuitive user experiences, all trades, settlements, and custody of assets are managed by a licensed and regulated capital market operator under Nigerian law.
8. Transparency, Disclosures & Investor Education
Innova is committed to transparent pricing, full disclosures, and continuous investor education. We publish material facts, product-specific risks, fee schedules, and other critical information in clear, accessible formats. We also support financial literacy by providing learning resources on our app and website.
Our goal is to empower every investor — whether beginner or experienced — with the knowledge and tools to invest confidently.
Innova Securities conducts frequent penetration testing, vulnerability scans, and data loss prevention exercises. User data and transactions are encrypted in transit and at rest, and we operate a multi-layered incident response plan to address potential breaches swiftly and effectively.
Contact info:
- To report suspicious activity, seek clarifications, or escalate compliance concerns, please contact our Compliance Unit at compliance@innovasecurities.com.
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