June 29, 2021/SEC Nigeria

Exposure Of Proposed Sundry Amendments To The Rules And Regulations Of
The Commission

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Summary of Sundry Amendments

1. Rule 3(4) – Filing of Materials with the Commission
2. Rule 7 – Fine/Penalty
3. Rule 9(8) – Power of the Commission to demand and examine records required to be maintained
4. Rule 13 (3) – Maintenance of adequate records of affairs and transactions
5. Rule 35(7) – Change of status of Registrant
6. Rule 39(7) – Annual Report
7. Rule 41(5) – Quarterly Report
8. Rule 42(3) – Half yearly returns
9. Rule 65(5) – Broker acting as agent
10. Rule 105(1) – Return Monies
11. Rule 108(9) – Opening of account for payment of dividend
12. Rule 108(10) – Opening of account for payment of dividend
13. Rule 242 – Penalty
14. Rule 261(5) – Separation of Account
15. Rule 267(4) – Maintenance of adequate records of affairs and transactions
16. Rule 279(4)(g) – Registration of Bonus Issue
17. Rule 282(2) – Prohibition of Sale
18. Rule 296(3) – Opening of Subscription Lists
19. 305(7)(b)- Proceeds of Issue
20. 305(8)- Return Monies