Business
Stakeholders brainstorm on capital market reforms
Capital market regulators, operators and other stakeholders are scheduled to meet this Wednesday to brainstorm on the implementation of the Revised Capital Market Master Plan, which aims at repositioning the market for global competitiveness.....PROCEED.FULL.READING>>>
The Capital Market Committee (CMC) – an industry-wide consultative body, will hold its first meeting in the year through Zoom..…CONTINUE.YOUR.READING
The CMC comprises members of the Securities and Exchange Commission (SEC), representatives of capital market operators and trade groups and other stakeholders. It was primarily established to serve as a medium for the exchange of ideas among market stakeholders as well as an avenue for providing feedback to the SEC on how to address challenges, improve market operations and enhance the regulatory framework.
“During the meeting, issues bordering on implementation of the Revised Capital Market Master Plan, implementation of the fintech roadmap, the commodities trading ecosystem roadmap as well as other salient matters relating to the capital market and the economy would be discussed,” SEC stated at the weekend.
SEC launched the Revised Capital Market Master Plan (CMMP) last November. The masterplan serves as a blueprint to harness opportunities to better position the capital market as the engine of economic growth and development.
The SEC had previously implemented many initiatives under the 10-year Capital Market Master Plan, which was designed to reposition the capital market as an attractive investment destination and a critical facilitator of capital formation for the accelerated growth and development of the economy.
Some of the initiatives that had been implemented included direct cash settlement, regularisation of multiple subscriptions, dematerialisation of share certificates, and the introduction of the e-dividend management system.
SEC noted that recent initiatives have helped in promoting transparency, protecting investors and enhancing market confidence, while also ensuring that only fit and proper persons are allowed to operate in the capital market.
According to the Commission, the objectives of the masterplan are in agreement with the Federal Government’s economic strategy, focused on deepening the capital market and encouraging a private sector-led economy to drive inclusive growth.…CONTINUE.YOUR.READING
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