Nigeria’s Securities and Exchange Commission (SEC) has re-introduced the periodic renewal of registration by Capital Market Operators (CMOs) to reduce incidences of unethical practices in the market.
A circular pasted on the commission’s website on Thursday also gave all CMOs an April 30 deadline to complete the registration renewal for 2021.
It said that the move was aimed at having a reliable data bank of all CMOs in the Nigerian Capital Market both registered and active.
The circular said the re-introduction of the registration was also to strengthen 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.
”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,” it said.