Regulatory Alerts2017-05-12
Circular to Capital Market Experts and Professionals Who Did Not Respond to the Commission’s Data Update Request
The Securities and Exchange Commission (SEC) Nigeria directs Capital Market Experts and Professionals who failed to respond to its 2016 and 2017 data requests to submit updated firm information via a designated online portal. These firms must maintain a minimum of three sponsored individuals, including a compliance officer, to retain their active registration status. Compliance is mandatory by July 31, 2017, after which the SEC will classify unresponsive firms as inactive and exercise its authority to revoke their registrations.
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