The Securities and Exchange Commission (SEC) is set to host the inaugural edition of the Securities Issuers Forum (SIF) on Wednesday, August 4, 2021.
The event, which will be virtual, is organised in collaboration with the Nigeria Employers’ Consultative Association (NECA) and will have Chief Executive Officers (CEOs) and Company Secretaries of public companies in attendance.
In a press release seen by Business Post, the commission stated, “The objectives of issuers forum among others are to: maintain regular contact with the regulator and policymakers: advise the regulator and policymakers on regulations affecting companies/issuers and conduct research, organize conferences, roundtable discussions and other events for the benefit of members.”
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The capital market regulator also added that the forum was set up to promote sound corporate governance and ethical conduct among members: promote healthy competitiveness among members and maintain an enabling business environment by monitoring issues of direct relevance to members.
According to the SEC, the need for a forum for securities market issuers has become apparent to enable issuers to monitor and respond to developments in financial regulation and/or government policies.
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“The forum will also serve as a medium of regular engagement between SEC and issuers of securities in order to address challenges, improve the business environment and enhance the contribution of the capital market to the growth of the Nigerian economy.
“It is expected that with the establishment of SIF, SEC will be better positioned to engage issuers on capital raising opportunities to facilitate increased participation in the capital market, development of new products to meet funding needs and addressing issues relating to compliance with regulatory requirements.
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“In all, SIF has the potential to shorten the distance between SEC and issuers of securities,” the SEC statement added.
The establishment of SIF has the potential for far-reaching direct and indirect impact on other stakeholders by the provision of a wider range of investment opportunities and portfolios for investors, improved access to capital to fund expansion projects and new ventures, deepening and broadening the capital market and increasing its contribution to the nation’s development.