The Nigerian Securities and Exchange Commission has set May 31, 2021, to stop operations of Capital Market Operators yet to renew their registration.
SEC stated this in a circular, ‘Update on Renewal of Registration for Capital Market Operators’, issued on Monday.
“CMOs yet to renew their registration after May 31, 2021, shall not be eligible to operate in the capital market.
“The names of CMOs, which have renewed their registration, shall be published on the SEC website/national dailies and communicated to the relevant securities exchanges and trade associations for their notification,” the circular signed by SEC management read in part.
The commission, however, stated that late filing for renewal of registration would only be entertained from May 1 to May 31, as the CMOs ought to have completed the renewal process on or before April 30.
The capital market regulatory body had, in March 2021, issued a circular for the re-introduction of the periodic renewal of registration by operators, to capture the country’s capital market players and reduce unethical practices by the CMOs, among other reasons.
