SEC Challenges Stockbrokers: Ethics Must Anchor Digital Market
By Patience Ikpeme
The Securities and Exchange Commission (SEC) has called on stockbrokers to uphold the highest levels of professionalism and ethical conduct, stating that “No amount of innovation can replace the foundational importance of ethics.”
The Director-General of the SEC, Dr. Emomotimi Agama, made this appeal over the weekend during the 29th annual conference of the Chartered Institute of Stockbrokers (CIS) in Abuja. He asserted that a truly transformative capital market must be built on integrity, transparency, and accountability.
Dr. Agama said the conference theme, “Capital Markets in a Digital, Ethical, Sustainable Era: Pathways for Economic Transformation,” speaks directly to the global transition. He explained that digitalization, ethics, and sustainability are not separate pillars, but rather the essential foundation of a modern, inclusive, and resilient capital market.
“No amount of innovation can replace the foundational importance of ethics. A truly transformative capital market must be built on integrity, transparency, and accountability,” Dr. Agama stated.
Agama maintained that for the market to be fair and transparent, investors must have complete trust in their financial representatives.
He said: “As regulators, we continue to emphasize that professionalism and ethical conduct are non-negotiable. Investors must have full confidence that the intermediaries who manage their wealth are guided by the highest standards of honesty and competence.”
Dr. Agama acknowledged that technological innovation is reshaping capital markets worldwide, introducing new possibilities from online trading and digital assets to blockchain and Artificial Intelligence. He confirmed that the SEC is embracing this transformation to enhance efficiency, transparency, and investor protection.
He noted that ongoing efforts to strengthen market surveillance systems, automate regulatory processes, and introduce risk-based supervision frameworks are all aimed at positioning the Nigerian capital market for the realities of a digital economy.
Dr. Agama added: “We are also actively engaging with stakeholders: including the Chartered Institute of Stockbrokers, to deepen digital literacy and capacity-building across the market. As technology evolves, so must our skills, our ethics, and our shared commitment to fairness and professionalism.”
The SEC boss recognized the CIS as a key partner in this area, noting its role in setting professional standards and upholding the code of ethics that define the stockbroking profession. He concluded by urging a joint effort between the two organizations to ensure market trust.
“Together, the SEC and the CIS must continue to strengthen ethics education, continuous professional development, and disciplinary frameworks to ensure that the market remains a place of trust,” he said.
