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Update companies or loose registration licences, SEC warns capital market experts.

Jun 08 2017
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Update companies or loose registration licences, SEC warns capital market experts. Thisday Online

The Securities and Exchange Commission (SEC) said it would revoke the registration of about 400 Capital Market Experts who fail to provide updated information of their companies/firms by July 31. Mr. Naif Abdulsalam, the head Corporate Communications of SEC said this in a statement in Abuja.

 

Abdulsalam said the directive was stated in a circular released by the commission in Abuja.

 

He said, “any firm that its response is not received within this time frame would be considered inactive and SEC would exercise its powers to revoke its registration”.  Read more

 

Kudos, knocks as SEC threatens to revoke registration of experts. Guardian Online

Capital market stakeholders have expressed divergent views on the threats by the Securities and Exchange Commission (SEC), equities market regulator, to revoke the registration of about 400 market experts that failed to provide companies information latest by July 31st.

  

While some argued that their exit from the market will not have any negative effect but would restore sanity in the market considering the obstacles their non-compliance have caused, others insisted that any step taken to blacklist or suspend any firm at this point in time when the market is experiencing a gradual recovery. This, they argued, would send a wrong signal to both local and foreign investors.

 

SEC, in a circular on Monday, said it plans to revoke the registration of about 400 capital market experts that fail to comply with its directive to provide updated information of their firms by July 31st.  Read more

Last changed: Jun 08 2017 at 2:32 PM

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