Regulatory Alerts2020-11-10
Pre-Notice on Cancellation/Withdrawal of Certificates of Registration of Inactive Capital Market Operators
The Nigerian Securities and Exchange Commission issued a pre-notice affecting 157 Capital Market Operators whose registrations face cancellation or withdrawal due to unfiled statutory returns, eroded capital, or policy changes. Affected operators must submit written presentations justifying the retention of their licenses by 30 November 2020. Required submissions include hard copies delivered to the Commission’s head office and soft copies emailed to designated regulatory addresses.
The under-listed one hundred and fifty-seven (157) Capital Market Operators (CMOs) were registered by the Securities and Exchange Commission to perform various functions in the Nigerian capital market. However, these CMOs have either consistently failed to render their statutory returns to the Commission, had their capital eroded or were affected by policy changes. In view of this fact, the Commission hereby request the affected CMOs to submit presentations to the Commission, on or before 30th November, 2020 , why their registration should not be cancelled. Hard copies of the presentations should be forwarded to the Commission’s head office while soft copies should be sent to the under listed email addresses: inspectorate@sec.gov.ng monitoring@sec.gov.ng