SEC Proposes Amendments to its Rules on Custody and Transfer of Unclaimed Monies, NIPF


Thursday, June 24, 2021   /02:25 PM /  By SEC Nigeria  / Header Image Credit: Investor Place


The Securities and Exchange Commission (SEC) has issued exposure draft and proposed sundry amendments to the rules and regulations of the commission on Custody and Transfer of Unclaimed Monies and National Investors Protection Fund (NIPF).

Also, the commission proposed a new rule on Unclaimed Dividends. These rules were exposed in April 2021. However, due to the inclusion of some comments received from stakeholders and further review by the Rules Committee, there is a need to re-expose the rules to reflect the new amendments for the information of the public.

Details on the sundry amendments and the re-exposed rules are provided below.

Summary of  Sundry Amendments

  1. Proposed Amendment to Rule 107: Custody and Transfer of Unclaimed Monies
  2. Proposed Amendment to the National Investor Protection Fund (NIPF) Rules

Proposed New Rule 

  1. Proposed Rule on Unclaimed Dividends (E-Dividend Mandate) (Re-Exposure)

Proshare Nigeria Pvt. Ltd.

Related News

  1. SEC Nigeria Approves Chaka as the First Licensed Digital Sub-Broker
  2. SEC Nigeria Takes Over Leadership of The West Africa Securities Regulators Association (WASRA)
  3. SEC Rolls Out Regulatory Incubation Program for FinTechs Operating in the Nigerian Capital Market
  4. SEC Sets June 30 2021 as Deadline for Registration as a Crowdfunding Intermediary Platform
  5. SEC Sets Deadline of June 30 for Compliance with Crowdfunding Rules
  6. SEC Proposes New Rule On Social Bonds
  7. SEC Directs Existing Investment Crowdfunding Portals to Comply With Registration Requirements
  8. SEC's Regulations On Digital Sub-Brokers - Clarity for Online Inv. and Trading Platforms in Nigeria?
  9. SEC Proposes Rule for Processing Fees Payable for the Registration of ETD Products
  10. SEC to Entertain Late Filing on Renewal of Registration for CMOs from May 1 to May 31st, 2021
  11. IOSCO Sees Strong Support for Its Vision for an International Sustainability Standards Board
  12. SEC Proposes New Rules on Robo-Advisory Services And Sundry Amendments

Proshare Nigeria Pvt. Ltd.

Related News