Dipo Olowookere
By Dipo Olowookere
The earlier suspended Capital Market Committee (CMC) meeting of the Securities and Exchange Commission (SEC) will now take place on Thursday, August 20, 2020.
The critical meeting was earlier scheduled to hold in April 2020 but it was cancelled because of the global health crisis caused by COVID-19.
However, with the new normal brought about by the virus, the event will now take place with members attending the gathering virtually.
In a notice, the apex capital market regulatory agency said the CMC meeting, the first this year, will be done via a video-conferencing platform with invited members given instructions on how to join.
“The 2020 first Capital Market Committee (CMC) webinar meeting has been scheduled to hold on Thursday, August 20, 2020.
“The usual interface with members of the press will hold the following day being Friday, August 21, 2020.
“Attendance at both events is strictly by invitation,” the notice said.
Business Post reports that this would be the first CMC meeting of the newly appointed Director-General of SEC, Mr Lamido Yuguda.
Mr Yuguda was recently appointed as the substantive head of the agency by President Muhammadu Buhari.
He took over from Ms Mary Uduk, who headed the body in an acting capacity for over two years.
During Thursday’s meeting, participants will make a critical review of the 10-year master plan of the commission.
The committee is also expected to take a look at how to use technology to deepen the capital market and come up with more products to meet the growing demands of retail investors.
The CMC 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 continuously address challenges, improve market operations and enhance the regulatory framework.
It is an industry-wide committee comprising members of the SEC, representatives of capital market operators and trade groups and other stakeholders. The CMC meets every quarter.
Expected participants at the CMC meeting include Chief Executive Officers (CEOs) of all registered capital market firms (i.e. Broker/Dealers, Investment Advisers, Custodians, Fund/Portfolio Managers, Receiving Banks, Issuing Houses, Rating Agencies, Registrars, Reporting Accountants, Trustees, and Capital Market Consultants, etc.).
Others are the Chief Executive Officers of the Nigerian Stock Exchange (NSE); National Association of Securities Dealers (NASD); FMDQ Group Plc; Africa Exchange Holdings (AFEX); Nigeria Commodity Exchange (NCX); Central Securities Clearing System (CSCS); as well as representatives of relevant financial sector regulatory agencies, among others.
