Regulatory Alerts2017-07-15
Circular to All Capital Market Operators without the Required Number of Sponsored Individuals
The Securities and Exchange Commission (SEC) Nigeria mandates all Capital Market Operators, Experts, and Professionals to maintain the required number of Sponsored Individuals and a designated Compliance Officer for each performed function. These entities must regularize their registration status with the Commission by 20 August 2017 to remain compliant with the Investment and Securities Act (ISA) 2007 and SEC Rules. Failure to meet these staffing requirements will constitute a regulatory violation and strip the affected operators of their market operating privileges.
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