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SEC to deregister 157 inactive operators

by Business News Report

Securities Exchange Commission (SEC) has warned operators in the capital market that it will deregister inactive operators. As a result it has given a prior-notice on the cancellation/withdrawal of certificates of registration of inactive capital market operators. This is contained in a circular the apex regulator of the Nigerian capital market sent out to operators  on 10th November 2020.

In the circular SEC said that the listed one hundred and fifty-seven (157) Capital Market Operators (CMOs) were registered by the Securities and Exchange Commission for various functions in the Nigerian capital market. However, the CMOs have consistently failed to render their statutory returns to the Commission, had their capital eroded, while others were affected by policy changes. As a result of this, the Commission hereby requests the affected CMOs to make presentations to the Commission, on or before 13th November 2020, giving reasons why their registration should not be cancelled.

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