Securities and Exchange Commission Ghana (SEC)

The Securities and Exchange Commission mandates a T+

The Securities and Exchange Commission Nigeria has issued revised minimum capital requirements for all regulated capital market operators, effective from March 18, 2026. Existing entities are mandated to achieve compliance with these new capital thresholds by June 30, 2027, and must submit board-approved capitalization plans to the Commission by April 30, 2026. Failure to meet these obligations will subject operators to regulatory sanctions, including potential loss of license or forced reduction of registered activities.

The Securities and Exchange Commission (SEC) of Nigeria has announced new rules and amendments regarding the issuance and allotment of private companies' securities. These rules aim to regulate debt securities issuances by private companies, focusing on qualified investors and registration requirements. Additionally, amendments were made to existing rules concerning corporate bonds, annual and quarterly reports, fees, and private equity funds, emphasizing compliance and disclosure.

The Securities and Exchange Commission (SEC) Nigeria has released new rules and amendments aimed at regulating the issuance and allotment of private companies' securities. These updates address various aspects, including corporate bonds, annual and quarterly reports, fees on market deals, and private equity funds. The new regulations also outline eligibility criteria, restrictions, and conditions for securities issuance, as well as reporting requirements and sanctions for non-compliance, ultimately aiming to promote transparency and protect investors in the capital market.

The Securities and Exchange Commission (SEC) Nigeria has introduced new rules and amendments to existing regulations concerning the issuance of commercial papers (CPs). These rules outline eligibility criteria for issuers, conditions for CP issuance, registration requirements, and post-issuance obligations. The amendments also address exemptions and annual supervision fees for collective investment schemes, aiming to enhance regulatory oversight and investor protection in the Nigerian capital market. These changes are set to take effect, ensuring greater transparency and compliance within the financial sector.

The Securities and Exchange Commission (SEC) of Nigeria has introduced an Accelerated Regulatory Incubation Program (ARIP) to facilitate the onboarding of Virtual Assets Service Providers (VASPs) and other Digital Investments Service Providers (DISPs). This framework aims to streamline the registration process for qualified entities, allowing them to receive preliminary approval pending the full operationalization of Digital Assets Rules. The program will provide guidance on regulatory demands and enable the SEC to better understand digital asset business models, ensuring adequate measures for market integrity, investor protection, and anti-money laundering. Entities seeking to participate in the ARIP must meet specific eligibility criteria, including being incorporated in Nigeria, conducting investments and securities business, and seeking registration or having pending virtual asset-related applications. The application process involves an initial assessment phase and a subsequent application phase, with successful applicants receiving an approval-in-principle to operate within the ARIP for a specified period. The framework also outlines various operational requirements, reporting obligations, and potential penalties for non-compliance, as well as conditions for termination or removal from the program. The ARIP is designed to provide a pathway for participants to transition to full registration upon meeting the Commission's requirements. It includes provisions for the adoption of new regulations based on insights gained from the ARIP and aims to ensure that the framework is not used to circumvent existing rules and regulatory requirements.

The Securities and Exchange Commission (SEC) has released new regulations for capital market operators in Nigeria, aimed at combating money laundering, terrorism financing, and proliferation financing. These regulations, effective from May 2022, outline the obligations of capital market operators in implementing preventive measures, conducting customer due diligence (CDD), and reporting suspicious transactions. The regulations emphasize a risk-based approach to compliance and provide detailed guidelines for identifying and verifying clients, monitoring transactions, and ensuring employee training. Capital market operators are now required to enhance their internal controls and procedures to deter criminals from using their facilities for illicit activities, contributing to a more secure and transparent capital market in Nigeria.

The Securities and Exchange Commission (SEC) Nigeria has released new rules on social bonds to guide their issuance and utilization. These rules define social bonds, eligible projects, and target populations. They also outline conditions for approval, utilization and management of proceeds, reporting requirements, refinancing guidelines, and external review processes. The aim is to ensure that social bonds are used effectively to finance projects that address social issues and benefit specific populations in Nigeria.

The Securities and Exchange Commission (SEC) has announced amendments to Rule 45, sections (1) and (2), which concern registrable functions. These amendments include the expansion of sub-brokers to include Corporate, Individual, and Digital categories, as well as adding Robo Advisers to the list of Investment Advisers. Furthermore, the amendments incorporate Crowdfunding Intermediaries and Central Counterparty Clearing Members to the list of qualified entities for application, aiming to modernize and broaden the scope of registered functions within the capital market.

The Securities and Exchange Commission (SEC) of Nigeria has released regulatory incubation guidelines for a specific category of Fintech entrepreneurs. These guidelines outline the requirements, restrictions, and conditions for Fintech operators to operate under regulatory incubation. The aim is to enable the deepening of the Nigerian Capital Market through regulatory support, while ensuring investor protection and market integrity. Interested applicants are advised to complete the relevant application form and pay a processing fee, and the guidelines also detail the content required in the implementation plan.

The Securities and Exchange Commission (SEC) Nigeria has announced major amendments to its rules and regulations to accommodate sub-brokers using digital platforms. These amendments include new registration requirements, the definition of a 'Sub-broker Serving Multiple Brokers Through a Digital Platform', additional record-keeping requirements for transactions with clients, and new risk management rules for sub-brokers using digital platforms. These changes aim to adapt to the evolving landscape of the capital market and ensure investor protection.

The Securities and Exchange Commission (SEC) of Nigeria has introduced a new rule and amendments to its rules and regulations, focusing on warehousing and collateral management. This includes defining key terms such as "Assayer," "Collateral Management Company," and "Electronic Warehouse Receipt." The new regulations outline the registration process and requirements for collateral management companies, emphasizing minimum capital, fidelity insurance, and record maintenance. These changes aim to standardize electronic warehouse receipts and improve commodities trading in Nigeria.

The Securities and Exchange Commission (SEC) has released new rules and amendments regarding the regulation of fund management products, nominee companies, collective investment schemes, and crowdfunding. These updates include guidelines for fund/portfolio managers, nominee company operations, and registration requirements. The SEC aims to protect investors and ensure market integrity by setting clear standards and obligations for these financial entities, as well as providing payment details to make the process more seamless.

The Securities and Exchange Commission (SEC) has announced several amendments to its rules and regulations. These amendments cover legal practitioners, removal from listing, additional requirements for Sukuk Programmes, and Schedule I (Registration Fees, Minimum Capital Requirements, Securities and others). Additionally, these include a new "Part E" for annual regulatory charges for Securities Exchanges and FMIs. These changes aim to improve regulatory compliance and oversight within the Nigerian financial market.

The Securities and Exchange Commission (SEC) Nigeria has reviewed and approved new rules and amendments to existing regulations in accordance with the Investments & Securities Act (ISA) 2007. These changes include new rules on derivatives trading, central counter parties (CCP), and registration of fixed income securities. Major amendments address collective investment schemes, while sundry amendments cover fidelity bonds and minimum disclosure requirements for public companies on their websites. These updates aim to enhance market integrity, investor protection, and the smooth operation of trading activities within the Nigerian financial market.

The Securities and Exchange Commission (SEC) of Nigeria has issued new rules and amendments to existing regulations under the Investments and Securities Act of 2007. These changes encompass professional conduct for asset managers, fixed and equity primary issuance fees, and sundry amendments concerning brokers, sub-brokers, issuing houses, and capital market operators. The key focus includes enhancing ethical standards, ensuring fair investment practices, and providing clear operational guidelines for market participants. The new rules also address the trading of unlisted securities, registration requirements for capital market operators, and the obligations of custodians in collective investment schemes.

The Securities and Exchange Commission (SEC) Nigeria has released new rules and amendments to existing regulations aimed at enhancing market efficiency and investor protection. Key highlights include the introduction of Direct Cash Settlement (DCS) to ensure proceeds from securities trades are paid directly into clients' accounts, and regulations for Electronic Offerings (e-Offerings) to facilitate online access to prospectuses and subscription forms. The amendments also cover annual and quarterly reporting requirements, sub-broker reinstatement, and specific rules regarding transmission of shares and handling of complaints, with penalties for non-compliance to ensure adherence and accountability within the capital market.

The Securities and Exchange Commission (SEC) of Nigeria has released new rules and amendments to existing regulations concerning specialized funds/schemes, capital market holding companies, and other aspects of capital market operations. These changes aim to enhance investor protection, promote market efficiency, and ensure regulatory compliance within the Nigerian capital market. The amended rules address issues such as risk diversification in specialized funds, the structure and governance of capital market holding companies, and reporting requirements for market operators. These updates will be of particular interest to fund managers, institutional investors, and other stakeholders in the Nigerian financial industry.

The Securities and Exchange Commission (SEC) has introduced a new rule on green bonds and sundry amendments to its rules and regulations. The new rule on green bonds outlines the criteria for projects that qualify for green bond financing, as well as the requirements for issuers of green bonds. Further amendments include the use of Bank Verification Numbers (BVN) for client identification and providing guidelines for investment advisory services, including risk assessment and disclosure requirements. Additionally, there are amendments to rules concerning nominee accounts, investment advisers, and exemptions to registration.

The Securities and Exchange Commission (SEC) of Nigeria has released new rules and amendments to existing regulations, focusing on revenue bonds and corporate governance. These changes aim to mitigate investment risks in revenue bonds by outlining credit enhancements and specifying disclosure requirements for issuers. Additionally, amendments address dividend payment procedures, broker suspensions, and takeover regulations, enhancing transparency and investor protection in the Nigerian capital market.

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.

The Securities and Exchange Commission in Nigeria has released new regulations for the demutualization of securities exchanges. These regulations outline the requirements and procedures for converting member-owned organizations into shareholder-owned companies. The rules cover various aspects including pre-conditions for demutualization, post-demutualization requirements, commission procedures, ownership structure, governance, and shareholding reductions, aiming to ensure transparency and efficiency in the process.

Rating agencies must implement rigorous, objective methodologies and maintain independence by disclosing significant revenue concentrations, reviewing former analyst work, and prohibiting ratings of parent issuers. Agencies are required to enhance transparency by providing investors with standardized historical data, clear loss and cash-flow analyses, and distinct identifiers for structured finance products. Compliance mandates include the public disclosure of codes of conduct and analytical models on the agency's primary digital platform.

The Securities and Exchange Commission (SEC) has announced several amendments to its rules and regulations regarding additional disclosure requirements, registration requirements, and procedures for mergers and takeovers. These changes aim to enhance investor protection and ensure market transparency. Key updates include revised rules for shelf prospectuses, incorporation by reference, and required statements in prospectuses, as well as modifications to merger and takeover procedures to provide clearer guidelines and protect shareholder interests.

Trustees must adhere to all regulatory frameworks and constituent documents while exercising a duty of loyalty and prudent judgment to act in the best interests of beneficiaries. This code mandates rigorous oversight of service providers, the prevention of co-mingling funds, accurate financial reporting, and the active avoidance of conflicts of interest. Furthermore, trustees are responsible for maintaining asset security, enforcing risk diversification, and providing transparent, timely communications to both the Commission and stakeholders.

The document outlines the rules governing the trading of unlisted securities. It specifies that such securities must be traded through a system approved by the Commission and under its prescribed terms. Trading outside of a registered securities exchange platform is prohibited and carries a penalty. These rules are intended to regulate and facilitate over-the-counter trading of unlisted securities.

The Securities and Exchange Commission (SEC) of Nigeria has outlined rules and regulations regarding securitization in the country. These rules cover various aspects including definitions of terms, registration requirements, special purpose vehicles (SPVs), restrictions, disclosure requirements, eligible assets, transfer of assets, withdrawal/cancellation of registration, appointment of an interim representative, failure to continue business, the servicer, reports, extent of authority, and standard of conduct. The guidelines aim to provide a framework for the issuance of asset-backed securities (ABS) and ensure transparency and investor protection within the Nigerian financial market.

This Securities and Exchange Commission document establishes a mandatory Code of Corporate Governance for public companies in Nigeria to improve transparency, accountability, and board performance. The framework mandates structural requirements including board composition, segregation of roles between Chairman and CEO, and the establishment of dedicated audit and risk management committees. Companies must also implement rigorous disclosure practices, performance evaluations, and whistle-blowing mechanisms to ensure adherence to these minimum standards of corporate behavior.

The document is the full text of The Investments and Securities Act of 2007 from Nigeria. It repeals the Investments and Securities Act 1999, establishes the Securities and Exchange Commission (SEC) as the regulatory authority for the Nigerian capital market, and provides for the regulation of the market. The Act covers a broad range of topics including the establishment and management of the SEC, functions and powers of the commission, registration and regulation of securities exchanges and capital market operators, trading in securities, mergers, take-overs and acquisitions and collective investment schemes. Investors, shareholders and members of the Security and Exchange Commission are addressed, who should find these provisions valuable.

This Code establishes mandatory operational and ethical standards for registered Shareholders' Associations to ensure transparency and corporate governance compliance. Associations must maintain audited financial records, file regulatory returns, and restrict leadership tenures to a maximum of two three-year terms to prevent entrenchment. Shareholders are strictly prohibited from attending general meetings of companies in which they do not hold shares and must prioritize the efficacy of internal control systems within their investee companies.