SEC Nigeria Re-introduces Periodic Renewal of Registration by CMOs, Set April 30th Deadline for 2021

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Wednesday, March 24, 2021 /  02:34 PM / By SEC Nigeria / Header Image Credit: Economic Times

 

The Securities and Exchange Commission (SEC) hereby notifies the general public and Capital Market Operators (CMOs) in particular, of the reintroduction of the periodic renewal of registration by Capital Market Operators.

 

The reintroduction of renewal of registration is premised on the need:

  1. to have a reliable data bank of all CMOs registered and active in the Nigerian Capital Market.
  2. to provide updated information on operators in the Nigerian Capital Market for reference and other official purposes by local and foreign investors, other regulatory agencies and the general public.
  3. to increasingly reduce incidences of unethical practices by CMOs such as may affect investors' confidence and impact negatively on the Nigerian Capital Market.
  4.  to strengthen supervision and monitoring of CMOs by the Commission.

 

Consequently, the Commission has amended its rules and reintroduced the requirement for yearly renewal of registration by all CMOs. This process will be carried out electronically in order to ensure efficiency

 

For registration renewal please click on eportal.sec.gov.ng

 

All CMOs are to complete the process of renewal of registration for 2021 on or before 30th April 2021.



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