17/1/2017/SEC
- NEW RULE: CAPITAL MARKET HOLDING COMPANIES RULES
This Rule is proposed to create a robust framework for the regulation and supervision of Capital Market Holding Companies (CMHC). The Rule encompasses the entire spectrum of the regulation of CMHCs: pre-registration requirements, registration requirements, corporate governance structure, ownership and control, permissible and non-permissible activities and general obligations.
- SUNDRY AMENDMENTS
- i) Amendment to Rule 420 –An amendment to strengthen existing Rules on Global Depository Receipts (GDRs) by providing robust regulatory requirements for all kinds of depository receipts which may be issued or traded in Nigeria or by Nigerian entities.
- ii) Amendment to Rule 35 (7)- An amendment aimed at decisively tackling the issue of late filing/updating of documents by Capital Market Operators.
iii) Amendment to Rule 25– An amendment to provide further clarity on the requirement for all Capital Market Operators to be registered with Relevant Trade Groups/Associations.
- iv) Amendment to Rules 56, 67, 84 88, 69 178, 179 and 181 – An amendment to facilitate the Harmonization of Registration Requirements for Incidental Functions
All comments should be forwarded to rulescommittee@sec.gov.ng or through the DG, SEC not later than two (2) weeks from the date of this publication.
Signed
Management
16th January, 2017
