Improved Brokers Supervision Will Benefit the Market – TNI Q3/E12


Thursday, September 17, 2015/ 7.20am / The Nigerian Investor,

The Nigerian Stock Exchange in further discussion about its Minimum Operating Standard has come up with brokers’ oversight and supervision system which is geared towards enhancement and automation of the regulatory and oversight function of The Exchange over its Dealing Members.

This includes automation of regulatory filings, compliance monitoring and reporting, complaints management and tracking resolution and regulatory reporting the SEC among others.

The Minimum Operating Standard covers areas of concentration and they include;

1.       Manpower

2.      Effective processes

3.      Structure/governance

4.      Global competitiveness; and

5.      Technology

The NSE as a self-regulatory organization believes that the implementation of the broker oversight and supervision system will benefit stakeholders in the market through effective regulation, transparency and access to information.

While it is true that the three key facts of effective regulation, transparency and access to information will improve and benefit the market, regulators need to do more for investors in terms of proper and effective market regulation and more importantly investors protection which is key to improving confidence in the market.

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