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SEC seeks to deepen capital market with risk based guidelines

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The Securities and Exchange Commission (SEC) has issued a risk based management rule in the Nigerian capital market.

The SEC also asked the Risk Management Association of Nigeria (RIMAN) to bring its experience to bear on its exposed risk management rules that would help deepen the capital market.

Consequently, the commission expressed its readiness to collaborate with the association in its quest to make more products available in the capital market as well as deepen the market.

The Director General of the SEC, Mr. Lamido Yuguda, made this known in a goodwill message at RIMAN 20th International Conference held virtually.

Yuguda explained that from the outbreak of the pandemic to the subsequent lock down, the Commission had worked with capital market operators and other industry stakeholders to ensure that the market experiences minimal destruction. We have supported and acquired the emergence of various technological driven innovations around market operations and products some of which include Fintech, Digital Assets and Crowdfunding.

He said: “To support this, we developed a regulatory framework to galvanize these activities while focusing on managing the risk inherent in the products and activities in-line with our mandate of market development and investor protection.

“In supporting this innovation, we hope to build a better market, attract more investors, and reduce the demographic of the average age that presently invest in our market. We also hope to include millions whom were excluded from the capital market by making it easier for them to gain access.

“To achieve this, there is a need to collaborate with an organization such as yours and we hereby invite you to contribute in whatever way you can in building the Nigerian capital market.

“We invite you to do more in building the risk management capacity in the capital market, to conduct studies in risk capital market processes and products and contribute your opinions and recommendations to our exposed rules.”

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