The INVESTMENTS and SECURITIES ACT(ISA) 2007 - and Updates

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Thursday, August 07, 2014 7.58AM / Research

 

DOWNLOAD THE INVESTMENTS AND SECURITIES ACT(ISA) 2007

 

EXPLANATORY MEMORANDUM

The Act, amongst other things, provides for-

a)    the establishment of Securities and Exchange Commission;

b)    the repeal of the Investments and Securities Act 1999;

c)    the enlarged powers and functions of the Commission over the capital market ; and

d)    a set of new market infrastructures and wide-ranging system of regulation of investment and securities business in Nigeria, especially in the area of Mergers, Acquisitions and Take-Over, and collective Investment Schemes, where new provisions were made.

 

DOWNLOAD THE INVESTMENTS AND SECURITIES ACT(ISA) 2007

  

SECTIONS

·         PART I— ESTABLISHMENT AND MANAGEMENT OF THE SECURITIES AND EXCHANGE COMMISSION

·         PART II — FUNCTIONS AND POWERS OF THE COMMISSION

·         PART III — STAFF OF THE COMMISSION

·         PART IV — FINANCIAL PROVISIONS

·         PART VI: REGISTRATION AND REGULATION OF CAPITAL MARKET OPERATORS

·         PART VII: INSPECTIONS AND INVESTIGATIONS

·         PART VIII: REGULATION OF SECURITIES

·         PART IX: PUBLIC OFFER AND SALE OF SECURITIES AND INVITATIONS TO THE PUBLIC

·         PART X: CONDUCT OF SECURITIES BUSINESS

·         PART XI: TRADING IN SECURITIES

·         PART XII: MERGERS, TAKE-OVERS AND ACQUISITIONS

·         PART XIII: COLLECTIVE INVESTMENT SCHEMES

·         PART XIV: INVESTORS PROTECTION FUND

·         PART XV: BORROWING BY FEDERAL, STATE, AND LOCAL GOVERNMENTS AND THEIR AGENCIES.

·         PART XVI: ESTABLISHMENT, JURISDICTION, AUTHORITY AND PROCEDURE OF THE INVESTMENTS AND SECURITIES TRIBUNAL

·         PART XVII: MISCELLANEOUS

·         PART XVIII: INTERPRETATION AND CITATION

 

DOWNLOAD THE INVESTMENTS AND SECURITIES ACT(ISA) 2007

 

LATEST Regulatory UPDATES

1.    New SEC's Approved and Draft Rules in the Nigerian Capital Market

2.    SEC Issues Rule on Net Capital Requirement Calculation for Broker/Dealers

3.    SEC Issues Rules Relating to Complaints Management Framework of the Nigerian Capital Market

4.    SEC Releases Additional Disclosure Requirements for Exploration and Production (E&P) Companies

5.    NSE Amends Rules Governing Dealing Members

6.    NSE’s Amendments on Trading Halts Due to Extraordinary Market Volatility

7.    NSE Amends Rules Governing Compliance Officers’ Appointment & Responsibilities

8.    NSE Amends Rules Relating to Board Meetings and AGMs; SEC Nods

9.    SEC Approves NSE’s Amendments to Listing Rules; Effective 1st November, 2014

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