July 1, 2020/SEC Nigeria

Summary of Proposed Changes

New Rules

1. Proposed Rules on General Rules for Collective Investment Schemes (CIS)
2. Proposed New Rules on Annual Supervision Fees for Collective Investment Schemes
3. Proposed New Rules on Payment of Administrative Charges for Review of Supplemental Deeds and Amendments to Sundry Agreements

Sundry Amendments

1. Proposed Amendment to Rule 465(d)&(e)- Content of a Trust Deed
2. Proposed Amendment to Rule497- Investment by Collective Investment Schemes in Unlisted Securities/Additional Disclosure
3. Proposed Amendment to Rule 517- Amount to be Underwritten And Rule 519- Time Amount Underwritten is to be made Available
4. Proposed Amendment to Rule 522- Valuation Report

All comments and input should be forwarded by e-mail to the Secretariat, Rules Committee of the Commission, at rulescommittee@sec.gov.ng or by letter addressed to the Director-General, SEC, not later than two (2) weeks from date of publication.

Click here to read full PDF copy of New Rules