SEC Reminds Capital Market Operators of Registration Renewal Deadline
By Patience Ikpeme
The Securities and Exchange Commission (SEC) has issued a reminder to all Capital Market Operators (CMOs) to renew their registrations between January 1st and January 31st, 2025. This annual renewal process ensures that only qualified and reputable individuals operate within the Nigerian capital market.
The SEC’s circular drawing the attention of CMOs to this reminder shows the importance of maintaining a credible database of active CMOs. This data serves as a valuable resource for various stakeholders, including: Local and foreign investors; Other regulatory agencies and the general public
This updated information fosters transparency and strengthens investor confidence in the Nigerian capital market.
The SEC re-introduced the mandatory annual registration renewal for CMOs in 2021. This initiative aims to: ensure accurate and current information on all active CMOs in the Nigerian capital market; discourage misconduct by CMOs that could erode investor confidence and negatively impact the market and strengthen the SEC’s ability to oversee and regulate the activities of CMOs.
By enforcing the registration renewal process, the SEC prioritizes investor protection. A well-maintained database and focus on ethical conduct within the capital market contribute to a more secure and trustworthy investment environment.
Key requirements for renewal include a renewal period of January 1st to January 31st, 2025, an electronic portal – www.eportal.sec.gov.ng and the submission of the 2025 annual subscription receipt from respective trade groups
CMOs who fail to renew their registration within the specified timeframe may face penalties and potential exclusion from capital market activities.
The SEC has urged all CMOs to initiate the renewal process within the designated timeframe via the online portal. For any inquiries or assistance, they can contact the commission at registration@sec.gov.ng.
