September 29, 2022

STATINFO.BIZ

INTERNET PROVIDER BLOG

SEC set to carry second 2022 CMC assembly 


The Securities and Change Fee (SEC) is about to carry the Second Capital Market Committee (CMC) assembly in 2022.

The assembly is scheduled to be held nearly by means of Zoom with key stakeholders within the capital market assembly on August 18, whereas the standard interface with the press, on the end result of the CMC assembly, will happen on Friday August 19.

The CMC was primarily established to function a medium for trade of concepts amongst market stakeholders in addition to an avenue for offering suggestions to the SEC on the best way to repeatedly handle challenges, enhance market operations and improve the regulatory framework. It’s an industry-wide committee comprising members of the SEC, representatives of capital market operators and commerce teams and different stakeholders.

In keeping with the SEC, “Attendance to each occasions is strictly by invitation. Invited members will likely be despatched distinctive hyperlinks with which to hitch the assembly.”

Through the assembly, points bordering on implementation of the Ten-Yr Capital Market Grasp Plan, implementation of the Fintech Roadmap, the commodities buying and selling ecosystem roadmap in addition to different salient issues referring to the capital market and the economic system could be mentioned.

The Fee had unveiled the ten-year Capital Market Grasp Plan (CMMP) in November 2014 and has continued to implement the initiatives, that are designed to reposition the Nigerian Capital Market as a sexy funding vacation spot and a crucial facilitator of capital formation for the accelerated progress and growth of the Nigerian economic system.

Among the CMMP initiatives which have been carried out embrace; Direct Money Settlement, regularisation of a number of subscriptions, dematerialization of share certificates, and the introduction of the e-Dividend Administration System. The CMMP initiatives have helped in selling transparency, defending traders and enhancing market confidence. The aims of the CMMP are additionally in consonance with the Federal Authorities’s financial technique, targeted on encouraging a personal sector-led economic system to drive inclusive progress.

See also  In France, Macron loses majority seats at parliament, set to satisfy opposition

Solely not too long ago, the market launched into a revision of the grasp plan to evolve to web day realities. The revised Grasp Plan has since been introduced to the Minister of Finance Finances and Nationwide Planning in Abuja.

Anticipated members on the CMC assembly embrace Chief Govt Officers (CEOs) of all registered capital market corporations (i.e. Dealer/Sellers, Funding Advisers, Custodians, Fund/Portfolio Managers, Receiving Banks, Issuing Homes, Ranking Businesses, Registrars, Reporting Accountants, Trustees, and Capital Market Consultants, and many others.); Chief Govt Officers of: Nigerian Change Group (NGX), Nationwide Affiliation of Securities Sellers (NASD); FMDQ Group Plc; Africa Change Holdings (AFEX); Nigeria Commodity Change (NCX); Central Securities Clearing System (CSCS); in addition to representatives of related monetary sector  regulatory companies, amongst others.