SEC Strategies to Stop the Printing of Companies Annual Reports


Thursday, August 24, 2017 1:30PM / News

The  Securities and Exchange Commission has revealed plans to stop the printing of annual reports and accounts by quoted companies.

This was made know by the Director General of the apex capital market regulatory body, Mr Mounir Gwarzo, at the SEC CMC briefing held in Lagos.

This initiative is expected to help save quoted companies significant costs on annual report printing, move with best practice in digital reporting and ensure that more shareholders received their copies of the annual reports in a timely manner and accessible format.

We at proshare have long prepared for such a move, and welcome this step by the SEC.

It is believed  that both soft and hard copies of the annual reports would be issued concurrently at the initial stage while the phasing out of the hard copy version would be done afterwards.

Related News
Outcome of the Second Capital Market Committee Meeting Held on August 15, 2017
2.       SEC Proposes New Rules & Amendments to Rules on Book Building, Corporate Governance
3.       SEC Nigeria partners NERDC to develop curriculum for capital market studies in Nigeria
4.       SEC Issues Circular to all CMOs on Rendition of Various Returns for AML or CFT and NFIU
5.       SEC Directs CMOs & Public Limited Companies to Comply with Executive Order No.004 of 2017 on VAIDS

Related News