SEC: Capital Market Master Plan Promotes Transparency And Market Confidence

SEC: Capital Market Master Plan Promotes Transparency And Market Confidence—-The Securities and Exchange Commission (SEC) says the Capital Market Master Plan (CMMP) initiatives have helped in promoting transparency, protecting investors and enhancing market confidence.

The commission said this in a statement on Sunday in Abuja.

The statement noted that the commission unveiled the 10-year CMMP in November 2014 and had continued to implement the initiatives.

It said the initiatives were designed to reposition the country’s market as an attractive investment destination and critical facilitator of capital formation for the accelerated growth and development.

According to SEC, some of the initiatives that have been implemented include direct cash settlement and regularisation of multiple subscriptions.

Others are the introduction of the electronic dividend management system and dematerialisation of share certificates.

The commission said that it was ready to hold its second Capital Market Committee (CMC) meeting for exchange of ideas among market stakeholders.

It said the meeting would be an avenue to provide feedback to the SEC on how to continuously address challenges, improve market operations and enhance its regulatory framework.

”It is an industry-wide committee comprising members of SEC, representatives of capital market operators, trade groups and other stakeholders.

”During the meeting, issues on implementation of the ten-uear CMMP, Fintech roadmap, the commodities trading ecosystem roadmap and matters relating to the economy will be discussed,” SEC said.

It added that expected participants at the meeting include Chief Executive Officers of all registered capital market firms-broker/dealers, investment advisers, custodians and fund/portfolio managers, among others.