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Friday,
June 28, 2019 05:20 PM / SEC Nigeria / Header Image Credit: SEC Nigeria
The attention of the Securities and Exchange Commission (“the
Commission“) has been drawn to the recent trend by which CMOs carry on
operations without Compliance Officers and Managing Directors, in violation of
the SEC Rules and Regulations.
CMOs are hereby reminded that pursuant to Rule 14 of
the SEC Rules and Regulations and the amendments to Part C of the
Commission’s Rules on
Regulations of Capital Market Operators, it is
mandatory for CMOs to have Managing Directors and Compliance Officers at all
times.
All CMOs are directed to ensure immediate compliance with
the foregoing or be liable to the penalties for non-compliance under the SEC
Rules and Regulations
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