Regulatory Alerts2019-12-30
New Rules and Amendments to the Rules and Regulations of the Securities and Exchange Commission, Nigeria
This document introduces new regulatory frameworks for derivatives trading and central counterparty (CCP) operations, including comprehensive requirements for registration, risk management, and clearing processes. It establishes major amendments to collective investment schemes, such as tighter constraints on related-party transactions and clearer definitions for fund classifications. Finally, it mandates specific website disclosures for public companies regarding corporate governance and updates insurance policies for dealing members of securities exchanges.
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
[... The document continues with detailed definitions, registration requirements, operational procedures for Derivatives, CCPs, CIS, and updated corporate disclosure requirements ...]