By investadvocate
Dec 14 2010 16.20 GMT
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) has through its Issuers Services Department, Listings Directorate directed all Stockbroking firms to submit the details of transaction they executed on behalf of foreign clients.
This was contained in a notice Tuesday December 14 2010 by the Exchange to Dealing Member firms in Lagos Nigeria.
“You are required to submit the details of transactions (buy and sell) executed on behalf of Foreign clients and Nigerians in Diaspora during 2010 to the Exchange (Strategy & Business Development Directorate) on or before Friday, December 24, 2010†the notice affirmed.
The notice disclosed that the Format of presentation can be obtained from the 8th Floor Receptionist Desk at the Stock Exchange house.
This is inline with the Emmanuel Ikazoboh, Interim Administrator’s plans to reform the Nation’s Stock Exchange.
Exactly one week today Tuesday December 07 2010, the Stock Exchange announced it has developed a new financial reporting format for all Dealing Member Firms to make for uniform reporting and ease of comparison.
According to the Exchange, the new financial reporting format developed by its Regulation and Risk Management Directorate it is based on Quarterly rendition of returns.
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The NSE had also affirmed that in order to fully implement this initiative, the Directorate would invite all Chief Financial Officers (CFOs) and Chief Compliance Officers (CCOs) of Dealing Member Firms to a two hour briefing on the format; which held on Thursday December 09 2010 at the 11th floor of the Stock Exchange House.
As earlier reported, the Ikazoboh’s led Interim Administration of the NSE has taken seriously the issue of financial reporting as at when due at the Nation’s Stock Exchange.
