SEC Issues an Exposure of Proposed Sundry Amendments to its Rules on Filing of Materials, 19 Others

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Tuesday, June 29, 2021 / 12:58 PM / By SEC Nigeria / Header Image Credit: iStock

The Securities and Exchange Commission (SEC) has issued an exposure draft of its proposed sundry amendments to the Rules and Regulations of the commission on filing of materials with the commission and nineteen (19) other rules.

Find below details of the proposed sundry amendments


Summary of Sundry Amendments

  1. Rule 3(4) - Filing of Materials with the Commission
  2. Rule 7 - Fine/Penalty
  3. Rule 9(8) - Power of the Commission to demand and examine records required to be maintained
  4. Rule 13 (3) - Maintenance of adequate records of affairs and transactions
  5. Rule 35(7) - Change of status of Registrant
  6. Rule 39(7) - Annual Report
  7. Rule 41(5) - Quarterly Report
  8. Rule 42(3) - Half yearly returns
  9. Rule 65(5) - Broker acting as agent
  10. Rule 105(1) - Return Monies
  11. Rule 108(9) - Opening of account for payment of dividend
  12. Rule 108(10) - Opening of account for payment of dividend
  13. Rule 242 - Penalty
  14. Rule 261(5) - Separation of Account
  15. Rule 267(4) - Maintenance of adequate records of affairs and transactions
  16. Rule 279(4)(g) - Registration of Bonus Issue
  17. Rule 282(2) - Prohibition of Sale
  18. Rule 296(3) - Opening of Subscription Lists
  19. 305(7)(b) - Proceeds of Issue
  20. 305(8) - Return Monies


Download Here - SEC Rules for Exposure


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