Regulatory Alerts2021-04-27
Major Amendments to the Rules and Regulations of the Securities and Exchange Commission Nigeria
The SEC Nigeria has amended its rules regarding sub-brokers, establishing comprehensive registration and operational requirements for entities providing services through digital platforms. These updates mandate stricter risk management, including specific technological, security, and anti-money laundering controls for sub-brokers interacting with multiple sponsoring firms. Furthermore, the amendments expand the record-keeping obligations for all sub-brokers to include digital trade execution proofs and all client communications conducted via dedicated channels.
Share