SEC Directs Capital Market Operators to Have Required Number of Sponsored Individuals, Compliance Officers

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15/7/2017/SEC

The Securities and Exchange Commission (SEC) Nigeria wishes to inform all Capital Market Operators (CMOs), Experts and Professionals operating in the Nigerian capital market that in compliance with the provisions of the ISA 2007 and the SEC Rules and Regulations, they are expected to possess the required number of Sponsored Individuals and a Compliance Officer for each function performed by the operator in the capital market.

Consequently, all CMOs, Experts and Professionals without the required number of Sponsored Individuals and/or a Compliance Officer are mandated to regularize their registration status with the Commission on or before 20th of August 2017.

Failure to comply with this directive would be a violation of the provisions of the ISA 2007 and the SEC Rules & Regulations and render the CMO, Expert or Professional unable to operate in the market.

 

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