Regulatory Alerts2015-04-17
Rules on securitization 17415
The Securities and Exchange Commission (SEC) of Nigeria has outlined rules and regulations regarding securitization in the country. These rules cover various aspects including definitions of terms, registration requirements, special purpose vehicles (SPVs), restrictions, disclosure requirements, eligible assets, transfer of assets, withdrawal/cancellation of registration, appointment of an interim representative, failure to continue business, the servicer, reports, extent of authority, and standard of conduct. The guidelines aim to provide a framework for the issuance of asset-backed securities (ABS) and ensure transparency and investor protection within the Nigerian financial market.