Regulators | |
Regulators | |
3148 VIEWS | |
![]() |
Wednesday, February 20 2019 12:50 PM / by SEC Nigeria
Summary
The Securities and Exchange Commission has introduced changes to the practice of:
Full Text
ii. Execution of Advertisement materials and Specimen Documents: As part of efforts to ease regulatory requirements by eliminating processes which unduly prolong the issuance process, the Commission resolved to dispense with the practice of having all advert materials and specimen certificates or e-allotment notices, executed by all parties to the transaction.
With effect from the Effective Date;
iii. Sub-national Issuers – Consent Letters and Execution of Offer Documents: The Commission has evaluated the practice of having all members of a State Cabinet consent to be named in the offer document and execute the prospectus and considers this practice unduly burdensome and not in line with the accountability structure of sub-national governments.
With effect from the effective date and without prejudice to the requirements for sub-national issuances as contained in the law as well as the rules and regulations of the Commission, the offer document for sub-national issuances shall only name and be executed by the Governor, the Commissioner for Finance, the Accountant-General and the Attorney-General of the State.
Consequently, consent letters shall only be required from the Governor, Commissioner for Finance, Accountant-General and the Attorney-General of the State.
Effective Date: February 18, 2019
Enquiries or requests for clarification regarding any of the foregoing should be directed to offerapplications@sec.gov.ng
Related News
1.
SEC,
NIPC Collaborate to Attract Investors
2. IOSCO Statement
On Disclosure Of ESG Matters By Issuers
3. IOSCO Issues
Good Practices To Assist Audit Committees In Supporting Audit Quality
4. SEC Nigeria
Tasks Shareholders on Monitoring Their Investments
5. SEC Nigeria Will
Not Prosecute Multiple Account Holders - Mary Uduk ,Acting DG
6. Green Bond
Issuance Will Finance Nigeria’s Green Economy - Mary Uduk, Ag DG SEC Nigeria
7. SEC Rulemaking
In The Past Year, Road Ahead And Challenges - Brexit, LIBOR And Cybersecurity
Risks
8. SEC Nigeria
Launches Green Bond Rules
9. SEC
Nigeria Announces The Introduction of The Interpretive Guidance Note
10. FAQs
By SEC Nigeria On Regularization Of Multiple Subscriptions