Securities Exchange Commission (SEC) has given indication that inactive operators in the capital market will be deregistered.
in a circular the Nigerian capital market regulator sent out on 10th November 2020, it warned such operators they be will removed from the register of operators.
In the circular SEC said that the listed one hundred and fifty-seven (157) Capital Market Operators (CMOs) were registered by the Securities and Exchange Commission for various functions in the Nigerian capital market. However, the CMOs have consistently failed to render their statutory returns to the Commission, had their capital eroded, while others were affected by policy changes.
As a result of this, the Commission hereby requests the affected CMOs to make presentations to the Commission, on or before 13th November 2020, giving reasons why their registration should not be cancelled.
