NGX Regulation Limited (NGX RegCo), the independent regulatory arm of Nigerian Exchange Group, has published its supervision priorities for 2021.
This year, NGX RegCo will focus primarily on nineteen (19) areas of regulatory concerns organised into four (4) broad categories: Technology, Market Integrity, Operations, and Emerging Trends.
To ensure a fair and orderly market, the supervision priorities provide guidance to Trading License Holders (TLHs) of the Exchange, the investing public, and other stakeholders and are underpinned by business practices considered to be of market wide interest.
NGX Regulation Limited is a wholly owned subsidiary of Nigerian Exchange Group Plc; registered with the Securities and Exchange Commission (SEC) as a Self-Regulatory Organization (SRO). NGX Regulation is registered to provide Regulatory Services to Nigerian Exchange Limited under the terms of a Regulatory Services Agreement (RSA), and other SROs, trade groups/associations and statutory regulators/agencies.
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Tinuade Awe, Chief Executive Officer, NGX RegCo said “The priority document provides an insight into the performance of TLHs with regards to previous areas of regulatory concerns and observed emerging trends. Some of these include the increased dependence of TLHs on virtual communication and trading channels occasioned by the COVID-19 pandemic, as well as new market trends as it relates to new laws, regulation, and rules.”
She said, “Our supervisory programs have, therefore, been re-evaluated to introduce various initiatives designed to deal with the present challenges, including issuing statements, developing dialogue platforms for regulatory updates and providing assistance through regulatory arrangements that seek to cushion the financial and operational effects of regulatory activity on the businesses of our stakeholders as appropriate”.
