Stanley Opara
The Securities and Exchange Commission has sent a final reminder to all Capital Market Operators, directing them to update their registration information with the commission.
The SEC, pursuant to the powers conferred on it by the Investments and Securities Act 2007 had directed all CMOs to provide updated information of their companies/firms in December 2016 and February 2017, respectively.
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 commission said on Friday.
The SEC held its 2nd Capital Market Committee meeting on August 15, 2017 in Lagos where the Director-General of the commission, Mournir Gwarzo, expressed delight at the recent positive vibes from the capital market and anticipates sustained growth as the economic fundamentals of the country continue to stabilise.
He also stressed the need for all CMOs to professionally advise investors on equity investments in order not to repeat the mistake of the past.
Furthermore, he informed the meeting that from the last CMC till date, the commission had successfully formulated rules on transaction cost analysis, which is awaiting the approval of the Minister of Finance; completed update of the CMO database, and adopted policy to grant exemption from the commission’s registration process to principal officers of trade groups who are already registered sponsored individuals.
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