SEC to Host 2023 Q3 Capital Market Committee Meeting
By Patience Ikpeme
The Securities and Exchange Commission (SEC) has announced that it will be hosting the third quarter Capital Market Committee (CMC) meeting in 2023.
The meeting is scheduled to take place on Thursday, November 16, 2023, at the Federal Palace Hotel in Lagos. The SEC Management interaction with the Press will follow on Friday, November 17, 2023, at the SEC Lagos Zonal Office.
During the meeting, the agenda will include discussions on various important topics. Some of the key issues to be addressed are the trend of de-listing, challenges in the listing process, and implementing procedural changes to enhance efficiency and reduce costs for companies seeking to list.
The CMC will also focus on improving Capital Market Operators’ understanding of the Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) regulations, and their role in exiting the FATF grey list. Other burning issues about the capital market will also be discussed.
In addition to the agenda, updates will be provided on major achievements from various technical committees, such as the Commodities Ecosystem Implementation Committee, E-Dividend and DCS, Financial Literacy, and Non-interest capital Market FLTC.
The CMC is a committee that comprises the SEC, representatives of capital market operators and trade groups, and other stakeholders. This committee serves as a platform for stakeholders to engage in discussions about critical factors impacting the growth and functioning of the capital market. It allows stakeholders to address concerns, shape the market’s future, and provide feedback to the SEC on addressing challenges and improving market operations.
The CMC meeting will be attended by Chief Executive Officers (CEOs) of all registered capital market firms, including broker/dealers, investment advisers, custodians, fund/portfolio managers, and many others. 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), and representatives from relevant financial sector regulatory agencies are also expected to participate, among others.
