{"id":33900,"date":"2019-08-14T19:28:07","date_gmt":"2019-08-14T18:28:07","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=33900"},"modified":"2019-08-14T19:28:07","modified_gmt":"2019-08-14T18:28:07","slug":"sec-restates-commitment-to-investor-protection","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/sec-restates-commitment-to-investor-protection\/","title":{"rendered":"SEC Restates Commitment to Investor Protection"},"content":{"rendered":"

 <\/p>\n

The Securities and Exchange Commission, SEC has restated its determination to ensure that investors in the Capital market are adequately protected in all transactions.<\/p>\n

This was stated by Acting Director General of the SEC, Ms. Mary Uduk during a meeting with the Association of Corporate Trustees in Abuja, Wednesday.<\/p>\n

Uduk, who was represented by Acting Executive Commissioner, Operations of the SEC, Mr. Isyaku Tilde, said it is the responsibility of the SEC to ensure that investors are not short changed in any transactions in the market and therefore urged them to participate in the market to grow it.<\/p>\n

Uduk said it is to this end that the Commission is taking steps to reduce transaction costs in a bid to ensure that investors do not bear unnecessary costs.<\/p>\n

She said, \u201cWe are doing a lot to boost investors\u2019 confidence in our market. But I want to say that both local and foreign investors are very good for the market. For instance, the foreign investors, because they trade their shares all of the time it leads to price discovery as against the local investors that just takes a long term view on their investments.<\/div>\n

\u201cInvestors\u2019 fears can be of two folds, firstly they could be afraid because they feel that capital market operators will mismanage their investments, secondly is looking at the volatility of the market that makes investors sceptical.<\/p>\n

\u201cFor the first scenario, we have a number of initiatives that we have put in place to boost investors\u2019 confidence. We have the E-Dividend mandate system, the Direct Cash Settlement as well as multiple subscription in place. For the second category, investors have to take ownership of their investments. They have to be able to monitor their investments, attend Annual General Meetings as well as read the annual reports sent out to them.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

The Acting DG said investors are also protected through the National Investors Protection Fund (NIPF) Risk Based supervision that enables the SEC to supervise the operators to ensure that they do not do what they are not supposed to do.<\/p>\n

According to her, the Complaints Management Framework enables investors to know where to complain to and how long it takes for such complaints to be resolved. For those of the investors that are averse to risk, they should get their financial advisers to advise them properly on where to invest.<\/p>\n

\u201cWe also advise retail investors to invest in Collective Investment Schemes and Mutual Funds because those are managed independently by professionals and they are diversified thereby reducing risks. We are committed to protecting investors in the work we do.\u00a0We will keep working on our rules and the possibility of amending them when the need arises, we want more transparency in the market so that investors will feel comfortable and the market can be better.\u201d Uduk added.<\/p>\n

In her remarks, President of the Association, Mrs. Tokunboh Ajayi said members of the association are committed to attracting investors to the market without encumbering them with costs and commended the SEC on its efforts in transaction costs reduction.<\/p>\n

\u201cThis market is dynamic and that is why as a group we keep on evolving and devising ways to make the market better. We will continue to render our best and ensure our members operate within the confines of the rules and regulations in the market\u201d she stated.t<\/p>\n

Photo Caption: From Left–Managing Director, UTL Trust Management Service, Mrs Olufunke Oluseyi, President, Association of Corporate Trustees Mrs Tokunbo Ajayi, Acting Director General, Securities and Exchange Commission, Ms Mary Uduk and \u00a0Acting Executive Commissioner, Operations, SEC Mr Isyaku Tilde during a Meeting between SEC and Association of Corporate Trustees in Abuja, Wednesday 14\/09\/19<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission, SEC has restated its determination to ensure that investors in the Capital market are adequately protected in all transactions.<\/p>\n","protected":false},"author":6,"featured_media":33901,"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":[23,5250,17,624],"tags":[575],"coauthors":[2391],"class_list":["post-33900","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-maritime","category-news","category-politics","tag-sec"],"yoast_head":"\nSEC Restates Commitment to Investor Protection - 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-restates-commitment-to-investor-protection\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC Restates Commitment to Investor Protection - 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