The board of the Securities and Exchange Commission (SEC) at its 72nd meeting which took place on June 25, 2013, approved changes in the organisational structure of the commission.
The changes are intended to strengthen the SEC and position it to better discharge its mandates. They will better align the SEC to pursue its vision of becoming “one of the leading capital market regulators in the world”, and the mission of developing and regulating “a capital market that is dynamic, fair, transparent and efficient enough to contribute to the nation’s economic development”.
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The SEC’s legal and enforcement directorate is a particular focus of the changes. The strengthening of this vital arm of the commission to boost its capacity to undertake market surveillance, monitoring, investigation of malpractices, etc is a key rationale for the reorganisation.
Other changes include creation of new departments: Office of the Chief Economist, Market Development, Strategy, Ethics, Procurement and Fixed Income.
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