Regulatory Alerts2026-07-02
Proposed Rules on Cross-Border Securities Trading and Custody
The Securities and Exchange Commission of Nigeria proposes rules to regulate cross-border securities trading and custody for Nigerian investors, requiring registered Brokers to obtain a "No Objection" before offering such services. These rules mandate strict eligibility criteria for foreign intermediaries, segregation of client assets, specific settlement procedures, and comprehensive investor disclosures covering risks, fees, and ownership structures. Furthermore, the rules detail requirements for fractional securities trading, ensure the protection of investor rights, and stipulate that client assets remain segregated and protected in the event of a Broker's insolvency.
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