SEC to discuss 10-year masterplan implementationThe Sun News

April 15, 2018 2:14 PM

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SEC to discuss 10-year masterplan implementationThe Sun News

The implementation of the 10-year capital market masterplan and other sector initiatives will top the agenda of the first 2018 meeting of Capital Market Committee of the Securities and Exchange Commission (SEC).

The ten-year masterplan for the Nigerian capital market which is expected to refocus the market and help double its size over time and grow the economy was unveiled in November 2014.

The Commission has vigorously implemented some initiatives in the masterplan with the aim of attracting more investors to the market.

Some of the initiatives include direct cash settlement, dematerialisation and e-Dividend Registration, as they promote transparency, protect and enhance investors’ confidence in the capital market.

The regulatory body has urged shareholders to take advantage of the initiatives introduced in the capital market aimed, primarily, at strengthening the market and accelerating economic development.

This, SEC said was, in consonance with the present administration’s economic strategy focused on deepening the capital market as a vehicle for encouraging a private sector-led economy with enhanced productivity.

Those who have been invited to attend the expanded session are Chief Executive Officers (CEOs) of all registered capital market firms (i.e Broker Dealer, Capital Market Solicitors, Custodians, Fund Managers, Issuing Houses, Rating Agencies, Registrars, Reporting Accountants, Trustees, and Consultants, e.t.c).

Others are Chief Executive Officers of The Nigerian Stock Exchange (NSE), National Association of Securities Dealers (NASD), The Financial Markets Dealers Quotations (FMDQ), Africa Exchange Holdings (AFEX), Nigeria Commodity Exchange (NCX), Central Securities Clearing System (CSCS), Chartered Institute of Stockbrokers (CIS); as well as representatives of relevant Financial Services’ Agencies, among others.

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Source: sunnewsonline.com

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