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.
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