SEC reintroduces registration renewal for capital market operators

The Securities and Exchange Commission (SEC) has given capital market operators an April 30 deadline to renew their registration for 2021.

The commission announced the resumption of the periodic renewal of registration by capital market operators (CMOs) to reduce incidences of unethical practices in the market.

A circular published on the commission’s website on Thursday said the move is aimed at having a reliable data bank of all CMOs in the Nigerian capital market both registered and active.

According to the circular, the re-introduction of the registration was also to strengthen the supervision and monitoring of CMOs by the commission.

“SEC hereby notifies the general public and capital market operators (CMOs), in particular, of the reintroduction of the periodic renewal of registration by CMOs,” the circular read.

“It will 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.

“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.”