SEC directs capital market operators to revise registration details


By Ebenezer Adaramodu

The body mandated to regulate and develop the Nigerian Capital Market, Securities and Exchange Commission (SEC) has directed all Capital Market Operators (CMOs) to provide updated information of their companies and firms in December 2016 and February 2017.

SEC disclosed this in a statement on Friday, “The Securities and Exchange Commission (SEC) Nigeria pursuant to the powers conferred on it by the Investments and Securities Act (ISA) 2007 directed all Capital Market Operators (CMOs) to provide updated information of their Companies/Firms in December 2016 and February 2017 respectively.

Recall also that, Capital Market Experts/Professionals were in May 2017, reminded to update their registration information.

This serves as a final reminder to all CMOs including Capital Market Experts/Professionals who have not complied with the earlier directives to comply by providing updated information on their Companies/Firms on or before September 30, 2017.”

The agency, under the control of Mounir H. Gwarzo as Director General, released a list of 443 consultants who did not respond to request on data update on May 11, 2017, and has advised the operators, experts and professionals of capital market to comply and update their registration details on SEC’s official website.

Recently, SEC proposed new rules on Specialized Funds/Schemes, rule on Investment Advisory Services, and amendment to its rules and regulations on the Code of Corporate Governance, on Investment Advisers, Nominee Accounts, and Regulations for Demutualization of Securities Exchanges in Nigeria, Fund/Portfolio Management Operations, and Book Building.


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