Wednesday, March 02, 2016 09:23 AM / SEC
The 2016 Edition of the SEC Judges workshop was held on the 24th -25th of February, 2016 at the National Judicial Institute, Abuja. The workshop, had in attendance an array of luminaries from the Legal Field and the capital market as well as top Government functionaries.
Prof. Dalvinder Singh Sangha advocated for the application of both a compliance and a deterrence based approach to enforcement.
Prof. Koyinsola Ajayi SAN, heralded the important role of the capital market to the development of an economy. However, the ongoing jurisdictional controversy between the Federal High Court and the IST would live a negative impact on the capital market which would in-turn adversely affect the nation’s economic growth.
Chief Anthony Idigbe SAN, advocated for Deference to the decisions of both the Administrative Proceedings Committee (APC) of the Commission and the Investment and Securities Tribunal (IST) by the Nigerian Courts. The learned SAN urged the courts to act in this regard giving consideration to the level of expertise and special knowledge applied by the assessors of both bodies in adjudicating over capital market disputes.
Dr. Ngozi Chainakwalam, Chairperson of the Investment & Securities Tribunal (IST) outlined the importance of the IST.
Senator Isiaka Adeleke (Chairman Senate Committee on Capital Market), assured the SEC that the National Assembly was committed to assist the Commission in advocating for legislative inputs to the development of the capital market.
Giving the rigorous nature of a constitutional amendment, various participants suggested interim remedies to the challenges, some of which are:
Upon conclusion of the interactive session, participants adopted the under listed as the communique for the workshop: