Regulatory Alerts2021-01-25
New Rules and Amendments to the Commission’s Regulations on Fund Management, Nominee Companies, and Collective Investment Schemes
The Securities and Exchange Commission has issued new rules and amendments establishing a comprehensive regulatory framework for fund management products, nominee companies, and collective investment schemes. The regulations mandate prior Commission approval for fund operations, require nominee companies to be owned by financial institutions with a minimum N30 billion net worth, and introduce structured shelf registration processes for collective investment schemes. Furthermore, the framework specifies annual supervisory and regulatory fee calculations based on asset values, alongside detailed administrative charges for document amendments and strict compliance reporting obligations.
Share