BREAKING: FG Publicizes Deadline For Market Operators’ Registration Renewals

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FG has introduced the deadline for Market Operators’ Registration Renewals.

 

PoliticalNews Nigeria studies that the Federal Authorities by the Securities and Trade Fee (SEC) has reminded Capital  (CMOs) to make sure that they renew their registration on or earlier than January 31, 2025.

 

The Fee stated this in a current round to ask the operators to start this annual renewal of registration from January 1 to January 31, 2025.

 

 

The annual renewal of registration of Capital Market Operators, is geared toward guaranteeing that solely match and correct individuals function within the Nigerian capital market.

 

SEC within the secular acknowledged, “That is to tell all Capital Market Operators (CMOs) and most people that the annual renewal of Registration of CMOs for the 12 months 2025 will start from January 1, 2025.”

 

The Fee emphasised that CMOs with out legitimate registration shall be penalized and could also be excluded from finishing up capital market actions.

 

The SEC had in 2021 re-introduced periodic renewal of registration by capital market operators, which was premised on the necessity to have a dependable information {bank} of all CMOs registered and energetic within the Nigerian capital market.

 

The goal was to supply up to date info on operators within the Nigerian capital marketplace for reference and different official functions by native and overseas buyers, different regulatory businesses and the general public.

 

The renewal was additionally launched to more and more cut back incidences of unethical practices by CMOs reminiscent of might have an effect on buyers’ confidence and impression negatively on the Nigerian capital market, in addition to strengthen supervision and monitoring of CMOs by the fee.

 

Consequently, the SEC amended its guidelines and re-introduced the requirement for yearly registration renewal by all CMOs, which is carried out electronically to make sure effectivity.

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