Aggregated News From Investment Management Regulators

Nigeria

Request for Expression of interest (Consulting Services-Firms)

NIGERIA RISK-BASED SUPERVISION FRAMEWORK IMPLEMENTATION PROJECT SECTOR: NIGERIAN CAPITAL MARKET GRANT NO.: G-NG-H00-SUP-001: PROJECT ID NO.: P-NG-HZ0-007 The SECURITIES & EXCHANGE COMMISSION, NIGERIA (SEC) has received financing from the African Development Bank towards the cost of regulatory capacity improvements under the RISK-BASED SUPERVISION FRAMEWORK AND CAPCITY BUILDING PROJECT, and intends to apply part of the agreed amount for this grant to payments under the contract for consultancy services for the improvement of the Risk-Based Supervision Framework for the SEC. SERVICES INCLUDED UNDER THIS PROJECT: This project will involve the development of best practice risk-based supervision inspection manuals and guidelines for the Nigerian...

Update On Renewal Of Registration By Capital Market Operators

The Securities and Exchange Commission (“the Commission”) refers to its previous Circulars and e-mail dated 28th June 2021 on the renewal of registration of Capital Market Operators. Capital Market Operators are hereby informed that the Commission has re-opened its renewal portal (www.eportal.sec.gov.ng) to enable Operators that have not renewed their registration for 2021 to do so. The portal will remain open from 12th August 2021 to 31st August 2021. Please note however that penalties for late registration would continue to accrue from 1st May 2021.  Capital Market Operators who fail to renew their registration within the referenced timeframe would in addition to...

General Procurement Notice – Risk Based Supervision Framework Implementation And Capacity Development Project

The Securities & Exchange Commission, Nigeria  has received a grant from the African Development Bank Group administered/Capital Markets Development Trust Fund to finance the Risk Based Supervision Framework Implementation and Capacity Development Project. The principal objectives of this project are to: Provide technical assistance and capacity building on selected areas of the Commission’s operations, Support implementation of Risk-Based Supervision framework Improve the Securities Markets regulatory environment and broadening of market instruments that will help deepen the Capital Markets in Nigeria Strengthen the Commission’s supervisory tools as well as its capacity to achieve its mandate of investor protection and...

Judgement Of The Federal High Court In Respect Of BARA Finance & Investment Ltd And Its Management/Promoters

The Securities and Exchange Commission (“the Commission”) wishes to draw the attention of the general public to the judgement of the Federal High Court siting in Abuja on the 28th day of June 2021, in respect of BARA FINANCE & INVESTMENT LTD, wherein the company as well as MESSRS EDE AGIDA PETERS and OLOM OJEBONG JACOB were convicted of engaging in illegal capital market activities and operating an unregistered investment scheme, contrary to the provisions of sections 38, 54 and 67 of the Investments and Securities Act 2007. The court sentenced MR. EDE AGIDA PETERS and MR. OLOM OJEBONG...

Proposed major amendment to rules on securities exchanges and other sundry amendments

Major Amendment Proposed Amendment to Part E- Rules on Securities Exchanges. View all amendments here 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. This news item was originally published by the Securities and Exchange Commission (SEC NG). For more information, please see the Source Link.

OANDO Plc Enters Into A Settlement With The Securities And Exchange Commission

Pursuant to the powers conferred on the Securities and Exchange Commission (the Commission) by the Investments and Securities Act 2007, and the Rules and Regulations made pursuant thereto, the Commission on Thursday, July 15, 2021, entered into a Settlement with Oando Plc (the Company). The Commission in its letter to the Company dated May 31, 2019, gave certain directives and imposed sanctions on the Company, following investigations conducted pursuant to two petitions filed with the Commission in 2017. The Company and some of its affected directors had challenged the said directives in a series of suits commenced at the Federal High...

Proposed New Rule And Sundry Amendments To The Rules And Regulations Of The Commission

  SUMMARY New Rule New Rule for Public Companies and Capital Market Operators to disclose penalties and sanctions imposed on them by SEC in their Audited Financial Statements Sundry Amendments Proposed amendment to Rule 8 (Exemptions) Proposed amendment to Schedule I (Registration Fees, Minimum Capital Requirements, Securities and Others) DOWNLOAD DOCUMENT HERE 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.   This news item was originally published by the Securities and Exchange Commission (SEC NG). For more information, please see...

Exposure Of Proposed Sundry Amendments To The Rules And Regulations Of The Commission – 25 June 2021

SUMMARY Sundry Amendment Proposed amendment to Rule 42 (2)- Half-Yearly Returns Major Amendment Proposed Amendment to Part C14- Depository and Participants Download Full Document here 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. This news item was originally published by the Securities and Exchange Commission (SEC NG). For more information, please see the Source Link.

Proposed Interoperability/Financial Market Infrastructures Link Framework Among Central Securities Depositories

Introduction The Nigerian capital market has witnessed remarkable growth in the last few years in terms of size, market participants and tradable instruments. This has impacted the market structure in terms of composition and interconnectedness. In the secondary market particularly, there are currently multiple trading platforms and Financial Market Infrastructures (FMIs) which provide comparative services in depository, trading, clearing and settlement activities. Consequently, Interoperability arrangement has become necessary in order to enhance the efficiency of trading and settlement functions as well as align the market with international best practices. Download full document This news item was originally published by the Securities and Exchange...

Exposure Of Proposed Sundry Amendments To The Rules And Regulations Of The Commission

Summary of  Sundry Amendments Proposed Amendment to Rule 107: Custody and Transfer of Unclaimed Monies Proposed Amendment to the National Investor Protection Fund (NIPF) Rules DOWNLOAD FULL DOCUMENT HERE 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. This news item was originally published by the Securities and Exchange Commission (SEC NG). For more information, please see the Source Link.

Re-Exposure Of Proposed New Rule To The Rules And Regulations Of The Commission

Proposed New Rule Proposed Rule on Unclaimed Dividends (E-Dividend Mandate) (Re-Exposure)      Details of the proposal are as follows: The following rules were exposed in April 2021. However, due to the inclusion of some comments received from stakeholders and further review by the Rules Committee, there is a need to re-expose the rules to reflect the new amendments for the information of the public. DOWNLOAD FULL DOCUMENT 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. This...

Official Disclaimer on SEC Registration of MBA Capital and Trading Limited

The attention of the Securities and Exchange Commission (“the Commission”) has been drawn to a publication in one of the National Daily Newspapers, in which a victim of an alleged scam perpetrated by MBA Capital and Trading Limited, Misan Sagay reportedly stated that he had verified “on-line” and ascertained that the company was registered with the Commission. The Commission wishes to inform the general public that MBA Capital and Trading Limited has never been registered by the Commission. The Commission also uses this medium to remind the general public that by virtue of Section 38 (1) of the Investments and...

Regulator Information

Abbreviation: SEC NG
Jurisdiction: Nigeria

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