• Monday, July 22, 2024
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262 market operators comply with SEC directive on recapitalisation


Two hundred and sixty two (262) capital market operators have complied with the Securities and Exchange Commission (SEC) directive on recapitalisation, BusinessDay  can disclose.

Out of this number, about 111 are broker dealers, while others are corporate investment advisers, fund/portfolio managers, registrars, trustees, issuing houses, underwriters, and venture capitals.

Recall that the re-capitalisation exercise was recently extended till September 30, 2015 following the SEC board decision and the apex market regulator promised that the list of compliant operators would be made available on the Commission’s website via the link (CMOs New Minimum Capital Requirement), noting that it will be updated regularly.

The new capital requirement for broker/dealers is N300million from N70 million; for brokers only, the new capital requirement is N200 million from N40 million; while for dealers, it was increased from N30 million to N100 million.

The minimum capital requirement for Issuing Houses was increased from N150 million to N200 million; while that of Underwriters was increased from N100 million to N200 million.

For a Registrar in the Nigerian capital market, the minimum capital requirement is now N150 million, from N50 million; while for those in the Trustees business, the capital requirement was raised to N300million, from N40 million.

Furthermore, the minimum capital requirement for Rating Agency was increased from N20 million to N150 million; while the capital requirement for Corporate Investment Adviser remains at N5 million.

From an initial capital requirement of N500,000 every Individual Investment Adviser is expected to have  at least N2million as capital, by the end of this month; while Fund/Portfolio Manager’s minimum capital requirement was raised from N20 million to N150 million.

The operators that have complied are: ACL Capital Partners Ltd; Adonai Stockbrokers Limited; Aegis Financial Services &  Links Limited; Africa Prudential Registrars; Afrinvest Securities Limited; Aiico Capital Limited; Aims Asset Management Limited; Akintola Williams Deloitte & Touche; All Crown Registrars Ltd; Alm Consulting Ltd; Alpha Morgan Capital Ltd; Alternative Capital Partners Ltd; Altrade Securities Limited; Amyn Investments Limited; Anchoria Investment And Securities Ltd; Apel Asset Limited; Apel Capital & Trust Ltd; Apt Securities And Funds Limited; and Aquila Asset Management Ltd.

Others are: Argentil Capital Partners Limited; Arm Harith Infrastructure Investment Ltd; Asset & Resource Management Company Ltd; Associated Discount House Limited; Atlass Portfolios Limited; B&B Wealth Management Ltd; Bestworth Asset And Trust Limited; Bgl Asset Management Ltd; Bgl Capital Limited; Bgl Securities Ltd; Bluesea Capital Ltd; Bridgepoint Asset Management Ltd; Bysec Investments Ltd; Calag Capital Ltd; Calvin Investment Ltd; Calyx Securities Lomited; Capital Assets Limited; Capital Bancorp Plc; Cardinalstone Partners Limited; Cashcraft Asset Management Limited; Cbo Capital Partners Ltd; and Chapel Hill Advisory Partners Limited.

Other market operators that have complied with the SEC directive include: Chapel Hill Denham Asset Mgt Ltd; Chapelhill Denham Securities Ltd; City Code Trust & Investment Company Limited; City Securities (Registrars) Ltd; Citygate Global Investment Ltd; Consolidated Discount Ltd; Cordros Capital Limited; Core Trust And Investment Limited; Courteville Business Solutions; Cowry Asset Management Limited; Crane Securities Limited; Csl Stockbrokers Limited; Dambale (Nigeria) Limited; Datamax Registrars Limited; De Lords Securities Limited; Dfc Capital Limited

Others still are Dominion Trust Limited; Dunbell Securities Limited; Dunn Loren Merrifield Advisory Partners Ltd; Dunn Loren Merrifield Securities Limited; Dynamic Portfolio Ltd; Ecl Asset Management Limited; Eclat Capital Limited; Eclat Capital Ltd; Ecobank Development Co. Ltd; Edc Registrars Ltd; Edc Securities Limited; Elixir Asset Management Ltd; and Elixir Securities Limited.

Also included are Equity Capital Solutions Limited; Eurocomm Securities Limited; Fbn Capital Asset Management Limited; Fbn Capital Limited; Fbn Securities Limited; Fbn Trustees Nig. Ltd; Fcmb Capital Markets Ltd; Fcsl Asset Management Company Limited; Fidelity Finance Company Limited; Fidelity Securities Limited; Financial Trust Company Nigeria Limited; First Ally Capital Ltd; First Capital Trust Plc; First City Asset Mgt Limited; First Funds Limited; First Inland Capital Ltd; First Registrars Ltd; First Trustees Nig Limited; Firstcall Investment Options Ltd; Flobal Trust Limited; Foresight Portfolio Selection Ltd; Foresight Securities & Investment Ltd; Fortress Capital Limited; Frontier Capital Ltd; Fsdh Asset Mgt Ltd; Fsdh Merchant Bank Limited; Fsdh Securities Limited; Funds Matrix And Assets Management Limited; Futures & Bonds Ltd; Futureview Financial Services Limited; Futureview Securities Limited; Gidauniya Investment And Securities Limited; Gild Asset Management Ltd; Global Asset Management Nig Limited; Goldbanc Management Associates Limited; and Goshen Asset Investment Ltd.

Other recapitalised operators include: Greenwich Assets Management Ltd; Greenwich Securities Limited; Greenwich Trust Limited; Gti Capital Limited; Gti Securities Limited; H. Pierson Associates Ltd; Harmony Securities Limited; Heartbeat Investment Limited; Hephzibah Capital & Trust Limited; Heritage Capital Markets Limited; Horizon Stockbrokers Limited; Horwath Dafinone; Icmg Securities Limited; Icon Stockbrokers Limited; Integrated Trust & Investments Limited; International Standard Securities Limited; Interstate Securities Limited; Inverness Wealth Mgt Ltd; Investment One Financial Services Ltd; Investment One Stockbrokers Int’l Limited; Jb Services Nig. Ltd; Jvl Capital Limited; Kakawa Asset Management Limited; Kakawa Discount House Limited; Kapital Care Trust & Securities Limited; Kedari Capital Limited; Kings Thrones; Kord Capital Ltd; Lambeth Trust And Investment Co. Ltd; Lcm Consulting Nigeria Ltd; Lead Assets Management Ltd; Lead Capital Ltd; Lead Securities & Investment Limited; and Leadway Capital & Trusts Limited.

Leverage & Bond Securities Ltd; Lighthouse Asset Management Limited; Longterm Global Capital Limited; Lotus Capital Ltd; Magnartis Finance & Investment Limited; Mainstreet Bank Trustees & Asset Mgt Co. Ltd; Mainstreet Registrars; Mainstreet Bank Capital Ltd; Mansard Investment Ltd; Marimpex Finance & Investment Co. Limited; Marina Securities Limited; Marina Securities Stockbroking Services Limited; Mart Investments Ltd; Maven Asset Management Limited; Mbc Capital Limited and Mbl Financial Services Limited;

Mega Equities Ltd; Mercury Resources & Inv. Co. Ltd; Meristem Registrars Ltd; Meristem Securities Limited; Meristem Stockbrokers Limited; and Meristem Wealth Management Ltd have also complied with the regulators directive on market operators recapitalization.

Also included are: Milestone Capital Management Limited; Morgan Capital Securities Limited; Mutual Alliance Investment & Securities Limited; Network Capital Limited; Newdevco Investment & Securities Co. Ltd; Nigeria Life And Provident Company Ltd; Oceanic Capital Limited; Ogr Investment. & Trust Co. Ltd; Oziko Capital & Securities Ltd; Pac Asset Management Ltd; Pac Registrars Ltd; Pac Securities Limited; Pan African Capital Plc; Pareto Funds & Securities Limited; Partnership Securities Ltd; Peace Capital Market Ltd; Petroleum Inv. Mgt. Limited; Phillips Consulting Ltd; Phoenix Global Capital Markets Limited; Pilot Securities Limited; Pinefields Investments Services Limited; Planet Capital Limited; Pricewaterhouse Coopers Limited; Primera Africa Securities Limited; Profinad Nigeria Ltd; Prominent Securities Limited; Pyramid Securities Limited; Quick Projects Ltd; Radix Capital Partners Limited; Radix Trustees Ltd; Rainbow Securities And Investment Company Limited; Rand Merchant Bank Nigeria Limited; Readings Investments Limited; Regency Assets Management Limited; Renaissance Securities (Nigeria) Limited; Rencap (Securities) Nigeria Limited; Reward Investments & Services Limited; Riggs Securities Ltd; Rona-Chart Invest Co. Nig. Ltd; Rostrum Investment And Securities Limited; Royal Exchange Assurance Nig plc; and Royal Finance & Investment Limited.

The list of operators that have complied with the directive include: Royal Trust Securities Ltd; Securities And Capital Management Company Limited; Sfs Capital Nigeria Ltd; Sfs Financial Services Limited; Shaquil Investment Ltd; Shelong Investment Limited; Sigma Securities Limited; Signet Investments & Securities Ltd; Silverthorn Inv. & Trust Ltd; Sim Capital Alliance Ltd; Skye Trustees Ltd; Skyview Capital Limited; Smadac Securities Limited; Springboard Trust & Investment Limited; Stanbic Ibtc Asset Mgt. Limited; Stanbic Ibtc Capital Limited; Stanbic Ibtc Stockbrokers Limited; Stanbic Ibtc Ventures Limited; Stanbic Ibtc Trustees Ltd; Standard Chartered Securities (Nigeria) Ltd; Standard Union Securities Limited; Sterling Asset Management & Trustees Ltd; Sterling Capital Market Ltd; Sterling Registrars Ltd;Stockcorp Asset Management Ltd; Stockhouse Resource Ltd; Strategy & Arbitrage Limited; Tiddo Securities Limited; Time Line Consult Limited; Tradelink Securities Ltd; Traders Trust And Investment Company Limited; Travant Capital Advisory Services Ltd; Trust Yields Securities Limited; Trust House Investments Limited; Trw Stockbrokers Limited; Uba Asset Management Limited; Uba Capital Plc; Uba Securities Limited; Uba Trustees Ltd; Unex Capital Ltd; Unicorn Trust & Inv. Co. Ltd; Union Capital Markets Ltd; and Union Registrars Ltd;

In addition are: Union Trustees Ltd; United Securities Ltd; Unity Registrars Ltd; Ups-Securities & Investment Ltd; Valueline Securities & Investment Ltd; Venerate Capital Ltd; Veritas Registrars Ltd; Vetiva Capital Management Ltd; Vetiva Securities Ltd; Vicmem Investment Services Limited; W.O Capital Ltd; Wstc Financial Services Limited; Zenith Asset Management; and Zenith Capital Limited.

Iheanyi Nwachukwu