Regulatory Alerts2017-07-25
June 2017 Sec Executed Rules Regulations
The Securities and Exchange Commission (SEC) of Nigeria has announced new rules and amendments to existing regulations to enhance investor protection, improve market efficiency, and promote financial inclusion. Key changes include stricter rules on the return of unclaimed dividends to paying companies, the acceptance of INEC voter registration cards for client identification, and a tiered Know-Your-Customer (KYC) framework for capital market operators. Additionally, there are revisions to rules governing the National Investor Protection Fund (NIPF) and real estate investment schemes (REIS), as well as infrastructure funds. Capital Market Operators are urged to comply with the new rules and amendments to uphold market integrity and foster investor confidence.