By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-Nigeria’s apex capital market regulator, the Securities and Exchange Commission (SEC) said on Friday it has lifted the indefinite suspension slammed ON Cowry Asset Management Limited and its sponsored individuals from Issuing House functions.

“This is to notify the investing public that Cowry Asset Management Limited has satisfactorily fulfilled its underwriting commitment in accordance with the provisions of the Investment and Securities Act 2007 as well as the Rules and Regulations of the Securities and Exchange Commission,” SEC said in a statement.

The Commission said the lifting of the suspension is with effect from September 10, 2015.

On August 26, 2015 SEC suspended Cowry Asset due to the company’s failure to honour its underwriting obligation in accordance with Rule 318 (2) of SEC Rules and Regulations.

The Commission is empowered under Sections 13(n), 45, 303 of the Investments and Securities Act (ISA) 2007 and Rule 598 of its Rules and Regulation to protect the integrity of the capital market against all forms of abuses by sanctioning persons who violate the provisions of the Act and the Rules and Regulations made pursuant thereto.