SEC Nigeria to Hold Second CMC Meeting in 2021 on August 12th and 13th

Proshare

Tuesday, August 10, 2021 / 01:10 PM / Release by SEC Nigeria / Header Image Credit: SEC Nigeria

 

The Securities and Exchange Commission (SEC) is set to hold the Second Capital Market Committee (CMC) meeting in 2021 from Thursday, August 12 to Friday 13, 2021.

 

The meeting is scheduled to hold virtually through Zoom with key stakeholders in the capital market meeting on August 12, while the usual interface with the press, on the outcome of the CMC meeting, will take place on Friday, August 13.

 

According to the SEC, "Attendance to both events is strictly by invitation. Invited participants will be sent unique links with which to join the meeting".


Proshare Nigeria Pvt. Ltd.


The CMC was primarily established to serve as a medium for exchange of ideas among market stakeholders as well as an avenue for providing feedback to the SEC on how to continuously address challenges, improve market operations and enhance the regulatory framework. It is an industry-wide committee comprising members of the SEC, representatives of capital market operators and trade groups and other stakeholders. The CMC meets every quarter.

 

During the meeting, issues bordering on implementation of the Ten Year Capital Market Master Plan, implementation of the Fintech Roadmap, the commodities trading ecosystem roadmap as well as other salient matters relating to the capital market and the economy would be discussed.

 

Recall that the Commission had unveiled the ten-year Capital Market Master Plan (CMMP) in November 2014 and has continued to implement the initiatives, which are designed to reposition the Nigerian Capital Market as an attractive investment destination and a critical facilitator of capital formation for the accelerated growth and development of the Nigerian economy.

 

Some of the CMMP initiatives that have been implemented include; Direct Cash Settlement, regularization of multiple subscriptions, dematerialization of share certificates, and the introduction of the e-Dividend Management System. The CMMP initiatives have helped in promoting transparency, protecting investors and enhancing market confidence. The objectives of the CMMP are also in consonance with the Federal Government's economic strategy, focused on encouraging a private sector-led economy to drive inclusive growth.

 

Expected participants at the CMC meeting include Chief Executive Officers (CEOs) of all registered capital market firms (i.e. Broker/Dealers, Investment Advisers, Custodians, Fund/Portfolio Managers, Receiving Banks, Issuing Houses, Rating Agencies, Registrars, Reporting Accountants, Trustees, and Capital Market Consultants, etc.); Chief Executive Officers of: Nigerian Exchange Group (NGX), National Association of Securities Dealers (NASD); FMDQ Group Plc; Africa Exchange Holdings (AFEX); Nigeria Commodity Exchange (NCX); Central Securities Clearing System (CSCS); as well as representatives of relevant financial sector regulatory agencies, among others.


Proshare Nigeria Pvt. Ltd.


Related News

  1. SEC to Hold First 2021 CMC on Thursday, April 15th
  2. SEC Holds 1st CMC Meeting in Year 2020
  3. SEC To Hold Q2 2019 CMC Meeting On August 22, 2019
  4. SEC Nigeria Re-introduces Periodic Renewal of Registration by CMOs, Set April 30th Deadline for 2021
  5. SEC Nigeria To Host International Commodities Conference On March 16th and 17th 2020
  6. COVID-19 Second Wave: SEC Nigeria Issues Circular to Regulated Entities, Market Stakeholders
  7. SEC Nigeria Inaugurates Private Equity Committee
  8. SEC Nigeria Approves Chaka as the First Licensed Digital Sub-Broker
  9. SEC Grants NG Clearing Limited Registration as Nigeria's Premier Central Counterparty
  10. Steps on Unclaimed Dividend Retrieval Process as Highlighted by SEC Nigeria

 

 Proshare Nigeria Pvt. Ltd.

Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP