Tuesday, January 17, 2017 1.52AM/SEC
New Rule: Capital Market Holding Companies Rules
This Rule is proposed to create a robust framework for the regulation and supervision of Capital Market Holding Companies (CMHC). The Rule encompasses the entire spectrum of the regulation of CMHCs: pre-registration requirements, registration requirements, corporate governance structure, ownership and control, permissible and non-permissible activities and general obligations.
1. i) Amendment to Rule 420 –An amendment to strengthen existing Rules on Global Depository Receipts (GDRs) by providing robust regulatory requirements for all kinds of depository receipts which may be issued or traded in Nigeria or by Nigerian entities.
2. ii) Amendment to Rule 35 (7)- An amendment aimed at decisively tackling the issue of late filing/updating of documents by Capital Market Operators.
iii) Amendment to Rule 25– An amendment to provide further clarity on the requirement for all Capital Market Operators to be registered with Relevant Trade Groups/Associations.
1. iv) Amendment to Rules 56, 67, 84 88, 69 178, 179 and 181 – An amendment to facilitate the Harmonization of Registration Requirements for Incidental Functions.
All comments should be forwarded to email@example.com or through the DG, SEC not later than two (2) weeks from the date of this publication.
1. SEC Publishes Rules on Capital Market Holding Companies, Others for Exposure
2. SEC Reorganizes for Efficiency
3. Guidelines on Securities Settlement in Nigeria
4. Proposed Amendments to Laws Affecting Investment in Nigeria
5. SEC Issues Circular on Regulatory Institution Directing Some Persons to Register as Dealing Members
6. SEC Directs CMOs to Update Registration Information with the Commission
7. SEC Proposes New Rule & Sundry Amendments to its Rules and Regulations
8. SEC publishes list of rules for review in the next 12 months
9. SEC Publishes Rules for Exposure
10. SEC Proposes New Rule on Application of 12 Years and Above Unclaimed Dividends