Our reporter/ The Securities and Exchange Commission (SEC) on Sunday announced plans to name and shame capital market operators (CMOs) violating market regulations.
In a notice via its official X page, SEC said it would begin publishing the names of defaulting CMOs in a “name and shame” journal.
The commission described the initiative as part of its broader strategy to uphold market integrity and boost investor confidence.
“Stakeholders and the general public are hereby informed that henceforth, the names of Capital Market Operators (CMOs) found to have violated market laws/regulations would be published in the Commission’s ‘name and shame’ journal,” the notice read.
The commission further stated that the publication of offenders’ names would be in addition to the penalties prescribed in the Investments and Securities Act (ISA) 2007 and SEC Rules and Regulations.
According to SEC, the move aligns with its commitment to a zero-tolerance stance on market infractions, ensuring strict compliance with regulatory guidelines.
“This enforcement strategy underscores the Commission’s dedication to safeguarding the integrity and stability of the Nigerian capital market, protecting investors, and ensuring strict adherence to established rules and regulations,” SEC said.
Market operators and stakeholders were advised to comply with regulations to avoid facing sanctions.
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