SEC sets January 31 renewal deadline for capital market operators

The Securities and Exchange Commission (SEC) has reminded Capital Market Operators (CMOs) to complete their registration renewals by January 31, 2025.

This reminder was issued through a recent circular, which noted that the renewal process would be open from January 1 to January 31, 2025.

The annual renewal of registration is designed to ensure that only qualified individuals operate in the Nigerian capital market.

SEC in the secular stated: “This is to inform all Capital Market Operators (CMOs) and the general public that the annual renewal of Registration of CMOs for the year 2025 will commence from January 01, 2025.

“All CMOs applying for renewal are required to include their 2025 annual subscription receipt from their respective trade groups as part of their application.

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“In line with the Commission’s Rules & Regulations, all CMOs are to complete the process of renewal of registration for 2025 on or before January 31, 2025 via the renewal of registration portal www.eportal.sec.gov.ng. For enquiries or support in completing the process, please contact [email protected]”

The commission stressed that any CMO without valid registration would face penalties and could be barred from conducting capital market activities.

In 2021, SEC reintroduced periodic registration renewals for capital market operators to maintain an accurate database of all active and registered CMOs in the Nigerian capital market.

This initiative aims to provide up-to-date information on operators in the Nigerian capital market for reference and other official uses by local and foreign investors, other regulatory agencies, and the public.

The commission further said the renewal was also introduced to drastically reduce cases of unethical practices by CMOs capable of affecting investors’ confidence and impacting negatively on the Nigerian capital market, as well as strengthen supervision and monitoring of CMOs by the commission.

It therefore amended its rules and re-introduced the requirement for yearly renewal of registration by all CMOs, which is carried out electronically in order to ensure efficiency.