SEC Holds Second Capital Market Committee Meeting in 2021 Thursday

0
74

The second Capital Market Committee (CMC) meeting of the Securities and Exchange Commission (SEC) will take place on Thursday, August 12 and Friday, August 13, 2021.

A statement issued by the agency on Monday disclosed that the CMC meeting will hold virtually through Zoom with key stakeholders in the capital market.

Expected participants include Chief Executive Officers (CEOs) of all registered capital market firms (i.e. broker/dealers, investment advisers, custodians, fund/portfolio managers, receiving banks, issuing houses, rating agencies, registrars, reporting accountants, trustees, and capital market consultants, etc.); CEOs of Nigerian Exchange Group (NGX), National Association of Securities Dealers (NASD); FMDQ Group Plc; Africa Exchange Holdings (AFEX); Nigeria Commodity Exchange (NCX); Central Securities Clearing System (CSCS); as well as representatives of relevant financial sector regulatory agencies, among others.

ALSO READ States Share N388b Paris Loan Refund
“Attendance to the event is strictly by invitation. Invited participants will be sent unique links with which to join the meeting,” a part of the statement disclosed.

At the gathering, participants will discuss the 10-year Capital Market Master Plan (CMMP), implementation of the fintech roadmap, the commodities trading ecosystem roadmap as well as other salient matters relating to the capital market and the economy.
Naija247news recalls that in November 2014, SEC unveiled the 10-year CMMP designed to reposition the Nigerian capital market as an attractive investment destination and a critical facilitator of capital formation for the accelerated growth and development of the Nigerian economy.

Some of the CMMP initiatives that have been implemented include; Direct Cash Settlement, regularisation of multiple subscriptions, dematerialization of share certificates, and the introduction of the e-Dividend Management System.

The CMMP initiatives have helped in promoting transparency, protecting investors and enhancing market confidence. The objectives of the CMMP are also in consonance with the federal government’s economic strategy, focused on encouraging a private sector-led economy to drive inclusive growth.

At the CMC meeting, other aspects of the plan yet to be implemented would be looked into, while the progress made in the already implemented initiatives would be reviewed.

The CMC meeting, which holds every quarter, was primarily established to serve as a medium for the exchange of ideas among market stakeholders as well as an avenue for providing feedback to the SEC on how to continuously address challenges, improve market operations and enhance the regulatory framework.