Regulatory Alerts2020-06-22
New Rules and Amendments to the Rules and Regulations of the Commission
The Securities and Exchange Commission of Nigeria has introduced comprehensive new regulatory frameworks for derivatives trading and Central Counterparty (CCP) operations, establishing clear registration, risk management, and operational requirements. Significant amendments were made to the existing rules for Collective Investment Schemes, including enhanced definitions, stricter related-party transaction controls, and updated fee structures for registrations and authorizations. Additionally, the document updates fidelity bond obligations for corporate entities and mandates new corporate governance transparency requirements for public companies on their official websites.
NEW RULES AND AMENDMENTS TO THE RULES AND REGULATIONS OF THE COMMISSION
Pursuant to the Investments & Securities Act (ISA) 2007, the Commission has reviewed and approved the following new Rules and Amendments to its existing Rules and Regulations as follows:
New Rules
a. Rules on Regulation of Derivatives Trading b. Rules on Central Counter Party (CCP) c. New Rule on Registration of Fixed Income Existing Securities
Major Amendments
d. Amendment to Rules on Collective Investment Schemes
Sundry Amendments
e. Amendment to Rule 27- Fidelity Bond f. Amendment to Rule 42: Creation of sub-rule (6)- Minimum Disclosure Requirements by Public Companies on their websites
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