{"id":10556,"date":"2017-01-26T12:34:41","date_gmt":"2017-01-26T11:34:41","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=10556"},"modified":"2017-01-26T12:34:41","modified_gmt":"2017-01-26T11:34:41","slug":"sec-committed-to-development-of-exchanges-gwazor","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/sec-committed-to-development-of-exchanges-gwazor\/","title":{"rendered":"SEC Committed to development of Exchanges&#8211;Gwazor"},"content":{"rendered":"<p>The Director \u2013General of the Securities and Exchange Commission (SEC), Mounir Gwarzo has restated the commission\u2019s resolve to promote the development of Commodity Exchanges in the country.<\/p>\n<p>Speaking when he received the New Exco of the Association of Stockbroking Houses of Nigeria(ASHON)\u00a0 on\u00a0 a courtesy call at the commission on recently, the Director General said the commission was willing to support the Lagos Commodities &amp; Futures Exchange being midwived ASHON.<\/p>\n<p>On the suspension of some of their\u00a0members by the NSE &amp; SEC on account of deficiency in Minimum Operating Standard (MOS) compliance as well as diminution in value of minimum capital requirement, the DG insisted on a three months grace period, aligning with their arguement that stock brokers carry equities in their balance sheet and prices of equities have gone down thus affecting their capital\u00a0the DG insisted on a 3 months grace period.<\/p>\n<p>ASHON through its Chairman, Patrick Ezeagu had solicited for the possibility of increasing the grace period to 6 months to recapitalize or reclassify.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>The Group also noted with concern the proposed amendment of Rule 56(1) \u2013 Function of Brokers (Harmonization of Registration requirement for incidental functions). The development will preclude brokers from providing Investment advice to their clients\/Public.<\/p>\n<p>ASHON, while acknowledging not knowing the thinking behind the proposed amendment, solicited for the reconsideration of the proposal. The call is based on the backdrop of the so called value addition provided by brokers\/ dealers in providing investment advice to their clients. They argued that a lot of stock broking houses had well established research desks that not only help to broadcast market information on a continous basis but also carry out indepth analysis and provide opinions to complex financial issues to their clients.<\/p>\n<p>The Association also expressed their dismay on the Federal\u00a0 Government\u2019s sole reliance and emphasis on monetary policy for macroeconomic management to the detriment of the capital market. The association accepted to look at the Investment and Securities Tribunal funding proposal being championed by SEC and NSE.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Director \u2013General of the Securities and Exchange Commission (SEC), Mounir Gwarzo has restated the commission\u2019s resolve to promote the development of Commodity Exchanges in the country. Speaking when he received the New Exco of the Association of Stockbroking Houses of Nigeria(ASHON)\u00a0 on\u00a0 a courtesy call at the commission on recently, the Director General said &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":11,"featured_media":9713,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[575],"coauthors":[2392,2393],"class_list":["post-10556","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-sec"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC Committed to development of Exchanges-Gwazor - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/sec-committed-to-development-of-exchanges-gwazor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC Committed to development of Exchanges-Gwazor - National Wire\" \/>\n<meta property=\"og:description\" content=\"The Director \u2013General of the Securities and Exchange Commission (SEC), Mounir Gwarzo has restated the commission\u2019s resolve to promote the development of Commodity Exchanges in the country. Speaking when he received the New Exco of the Association of Stockbroking Houses of Nigeria(ASHON)\u00a0 on\u00a0 a courtesy call at the commission on recently, the Director General said &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/sec-committed-to-development-of-exchanges-gwazor\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-26T11:34:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2016\/11\/download-4.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"237\" \/>\n\t<meta property=\"og:image:height\" content=\"212\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dayo Emmanuel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sec-committed-to-development-of-exchanges-gwazor\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2016\/11\/download-4.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2016\/11\/download-4.jpg\",\"width\":237,\"height\":212,\"caption\":\"SEC DG, Mounir Gwarzo\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sec-committed-to-development-of-exchanges-gwazor\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/sec-committed-to-development-of-exchanges-gwazor\/\",\"name\":\"SEC Committed to development of Exchanges-Gwazor - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sec-committed-to-development-of-exchanges-gwazor\/#primaryimage\"},\"datePublished\":\"2017-01-26T11:34:41+00:00\",\"dateModified\":\"2017-01-26T11:34:41+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sec-committed-to-development-of-exchanges-gwazor\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/sec-committed-to-development-of-exchanges-gwazor\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/sec-committed-to-development-of-exchanges-gwazor\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SEC Committed to development of Exchanges&#8211;Gwazor\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\",\"name\":\"Dayo Emmanuel\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/dayo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Committed to development of Exchanges-Gwazor - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/sec-committed-to-development-of-exchanges-gwazor\/","og_locale":"en_US","og_type":"article","og_title":"SEC Committed to development of Exchanges-Gwazor - National Wire","og_description":"The Director \u2013General of the Securities and Exchange Commission (SEC), Mounir Gwarzo has restated the commission\u2019s resolve to promote the development of Commodity Exchanges in the country. 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