Aggregated News From Investment Management Regulators

Nigeria

Exposure Of New Rule On Shariah Advisory Services For Non-Interest Capital Market Products And Services

All comments and input should be forwarded by e-mail to the Secretariat, Rules Committee of the Commission, at [email protected] or by letter addressed to the Director-General, SEC, not later than two (2) weeks from date of publication. Download document-Exposure of New Rule on Shariah Advisory Services Preamble The Non-interest Capital Market activities in recent times are exponentially increasing. The market is witnessing the entrance of more asset managers, emergence of i-REIT, listing of sovereign Sukuk on the Exchanges, issuance of corporate Sukuk, emergence of shariah advisory function etc.  These developments coupled with the necessity of shariah services for the market affirms the...

Amendment to the Investment and Securities (Exemption of State Government etc.) Order, 2019

The Securities and Exchange Commission wishes to notify all Capital Market Operators (CMOs) and the general public that the Honourable Minister of Finance, Budget and National Development has approved an amendment to the Investment and Securities (Exemption of State Governments etc.) Order 2019 as contained in the Federal Republic of Nigeria Officials Gazette dated 31st May, 2021. The Order grants Exemption to the State Governments and the Federal Capital Territory from the operations of Section 223 of the Investment and Securities Act 2007 to enable them raise funds from the Capital Market for infrastructural development. The Order can be downloaded here This...

Financial Literacy Technical Committee Presents A Timely Webinar On Fintech And The Capital Market

Topic: Fintech and the Capital Market: Opportunities or Threats Financial technology, also known as FinTech, is the use of technology to enable efficient banking and financial services. These FinTech innovations have brought about fundamental changes to the way of conducting financial-related activities. On this note, the Financial Literacy Technical Committee (FLTC), a market-wide committee of the capital market set up by the Securities and Exchange Commission (SEC) to provide market-related and people-centric information will be holding an online webinar that borders on the topic “Fintech and the Capital Market:Opportunities or Threats.” The webinar is scheduled for 15th September 2022 by...

Accelerating Financial Inclusion Through Crowdfunding

Register for the webinar here This news item was originally published by the Securities and Exchange Commission (SEC NG). For more information, please see the Source Link.

Notification for 2022 second CMC Webinar Meeting

The 2022 second Capital Market Committee (CMC) Webinar Meeting has been scheduled to hold on Thursday, 18th August, 2022. The usual interface with members of the press will also hold through webinar on Friday, 19th August, 2022. Attendance at both events is strictly by invitation. All invited participants are expected to be seated by 9.45am. Thank you. SIGNED MANAGEMENT This news item was originally published by the Securities and Exchange Commission (SEC NG). For more information, please see the Source Link.

Exposure Of Proposed Guidelines On Minimum Operating Standards For Information Technology For Capital Market Operators (CMOS)

This news item was originally published by the Securities and Exchange Commission (SEC NG). For more information, please see the Proposed Guidelines here: Source Link.

Circular On Processing Fee For Fairness Review Of Mergers, Takeovers And Acquisitions By The Securities And Exchange Commission, Nigeria

The Commission, pursuant to its powers under the Investment and Securities Act (ISA), 2007, and Rule 6 of the Amended Rules on Mergers, Takeovers and Acquisitions, by this circular, hereby notify all public companies involved in or intending to be involved in a merger, acquisition, or other forms of corporate restructuring that the applicable ’’processing fee’’  for fairness review of mergers, takeovers and acquisitions by the Commission, is as stipulated in Schedule I, Part C, 8(iii) of the Commission’s Consolidated Rules 2013. Please be guided accordingly. Management. This news item was originally published by the Securities and Exchange Commission (SEC NG). For...

Activities Of Some Unregistered Investments Schemes

The Securities and Exchange Commission (“SEC”), on March 14, 2022 shut the offices of the following companies: OXFORD INTERNATIONAL GROUP/OXFORD COMMERCIAL SERVICES FARMFORTE AGRO ALLIED SOLUTIONS LIMITED/AGROPARTNERSHIPS VEKTR CAPITAL INVESTMENT/VEKTR ENTERPRISE The Commission hereby notifies the investing public that none of these entities is registered by the SEC and the Investment Schemes promoted by them are also not authorized by the SEC. The Commission warns that it is unlawful for any private enterprise whether incorporated as a company or not, to solicit funds from the public by whatever means to fund its private ventures in contravention of the Investments and Securities...

Exposure Of Proposed Amendments Of The Rules And Regulations (Schedule I & Rule 393 (3) (x))

Major Amendment Proposed amendment to Schedule I (Registration Fees, Minimum Capital Requirements, Securities and Others)          Sundry Amendment Proposed amendment to Rule 398 (3) (x)- Rules Relating to Share Buy-back   All comments and input should be forwarded by e-mail to the Secretariat, Rules Committee of the Commission, at [email protected] or by letter addressed to the Director-General, SEC, not later than two (2) weeks from date of publication. View/Download Below: Download File This news item was originally published by the Securities and Exchange Commission (SEC NG). For more information, please see the Source Link.

Re: Notice To All Capital Market Operators (CMOs) On 2022 Renewal Of Registration

Further to our earlier circular released on 16th December 2021 on the above subject, this is a reminder to all Capital Market Operators and relevant stakeholders that the 2022 Registration Renewal Exercise will end on 31st January 2022, and there will be no extension. The renewal portal can be accessed via eportal.sec.gov.ng Capital Market Operators that fail to renew their licenses will be barred from performing capital market activities in 2022. Signed: Management This news item was originally published by the Securities and Exchange Commission (SEC NG). For more information, please see the Source Link.

FG’s Official Gazzette On Proscription Of Banditry And Screening Of Clients Against Sanction Lists

All Capital Market Operators (CMOs) are hereby notified that in line with the requirements of the Terrorism Prevention Act (No. 10,2011) and Terrorism (Prevention) Proscription Order Motion, 2021, the Federal Government of Nigeria has declared the activities of “YAN BINDIGA GROUP”, YAN TA’ADDA GROUP AND OTHER SIMILAR Groups in any part of Nigeria as Terrorism and Illegal, proscribing their existence and restraining any person or Group of Persons from participating in any manner whatsoever in any form in the activities of any of the Groups. All Capital Market Operators (CMOs) are required by this circular to screen and verify every...

Notice To All Capital Market Operators (CMOS) On 2022 Renewal Of Registration

This is to inform all Capital Market Operators (CMOs) and the general public that the annual renewal of Registration of CMOs for the year 2022 will commence from 1st January, 2022. In line with the Commission’s Rules & Regulations, all CMOs are to complete the process of renewal of registration for 2022 on or before 31st January, 2022 via the renewal of registration portal –  eportal.sec.gov.ng For enquiries or support in completing the process, please contact any of the persons below listed: Franca Isiguzoro: [email protected] Nakwada Ahmed: [email protected] Zarami Abubakar: [email protected] Okechukwu Callista: [email protected] Signed: Management This news item was originally published by...

Regulator Information

Abbreviation: SEC NG
Jurisdiction: Nigeria

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