By Modupe Gbadeyanka
The Securities and Exchange Commission (SEC) has approved the new rules and amendments proposed by the Nigerian Stock Exchange (NSE).
The new rules and amendments were suggested by the stock market regulator to fortify investors’ confidence in the nation’s bourse.
The three rules and amendments approved by the apex capital market regulator in the country are ‘Amendments to Dealing Members’ Rules (Part XIIIA) – Block Divestments and Large Volume Trades,’ ‘Amendments to Issuers’ Rules – Deletion of Chapter 16: Information to be Provided in a Block Divestment,’ and ‘Rules on Order Handling and Best Execution.’
All the three rules and amendments, according to the NSE, were approved by SEC on Monday, October 16, 2017.
Business Post learnt that the objective of the ‘Order Handling and Best Execution Rules’ is to ensure that Dealing Members strive to obtain the best deal for clients when executing clients’ orders. The Rules will guide Dealing Members on their obligations, from the receipt of clients’ mandates till when the mandates are executed.
Adedapo Adesanya