SEC holds Q2 2019 CMC meeting

The Securities and Exchange Commission (SEC) has announced that the Second Capital Market Committee (CMC) meeting in 2019 has been scheduled to hold on Thursday, August 22 to Friday, August 23, 2019 in Lagos.

The CMC was mainly established to serve as a medium for exchange of ideas among market stakeholders, as well as for feedback to SEC on how to continuously improve the market activities and regulation.

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

The CMC meets every quarter to deliberate on various issues affecting the market and other policy matters.

During the meeting, issues bordering on implementation of the 10-Year Capital Market Master Plan as well as others relating to the capital market, Fintech Roadmap and the economy will be discussed and the outcome made known to the media.

The 10-year master plan for the Nigerian capital market which is expected to refocus the market and help double its size over time and grow the economy was unveiled November 2014.

It will be recalled that the Commission has vigorously implemented some initiatives in the master plan with the aim of attracting more investors to the market.

Some of the initiatives, include direct cash settlement, regularisation of multiple subscription, dematerialisation and e-dividend registration, as they promote transparency, protect and enhance investors’ confidence in the capital market.