{"id":42202,"date":"2020-08-16T16:07:07","date_gmt":"2020-08-16T15:07:07","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=42202"},"modified":"2020-08-16T16:07:07","modified_gmt":"2020-08-16T15:07:07","slug":"the-securities-and-exchange-commission-sec-has-announced-that-the-first-capital-market-committee-cmc-meeting-in-2020-is-scheduled-to-hold-from-thursday-august-20-to-f","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/the-securities-and-exchange-commission-sec-has-announced-that-the-first-capital-market-committee-cmc-meeting-in-2020-is-scheduled-to-hold-from-thursday-august-20-to-f\/","title":{"rendered":"SEC Holds 1st CMC Meeting 2020"},"content":{"rendered":"

The Securities and Exchange Commission (SEC) has announced that the\u00a0<\/span><\/span>first<\/span><\/span>\u00a0Capital Market Committee (CMC) meeting in 2020\u00a0<\/span><\/span>is<\/span><\/span>\u00a0scheduled to hold\u00a0<\/span><\/span>from\u00a0<\/a><\/span><\/span>Thursday August 20 to Friday August 21, 2020<\/a>.<\/span><\/span>\u00a0A CMC Meeting planned for April 2020 could not hold owing to the prevailing lockdown imposed by the FGN during the period.<\/span><\/span><\/p>\n

Due to established protocols on COVID-19, the meeting\u00a0<\/span><\/span>will hol<\/span><\/span>d virtually through Zoom with key stakeholders in the capital market meeting\u00a0on August 20<\/a>, while a press briefing, on the outcome of the CMC meeting,\u00a0<\/span><\/span>will<\/span><\/span>\u00a0hold\u00a0on August 21.<\/a>\u00a0<\/span><\/span><\/p>\n

According to the SEC, \u201cAttendance to both events is strictly by invitation. Invited participants will be sent unique links\u00a0<\/span><\/span>with which\u00a0<\/span><\/span>to join the meeting.\u201d<\/span><\/span><\/p>\n

The CMC was\u00a0<\/span><\/span>primarily\u00a0<\/span><\/span>established to serve as a medium for 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.<\/span><\/span>\u00a0<\/span><\/span>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.<\/span><\/span><\/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

During the meeting, issues bordering on implementation of the Ten Year Capital Market Master Plan, implementation of the Fintech Roadmap as well as other salient matters relating to the capital market and the economy would be discussed. Recall that the Commission had unveiled the ten-year Capital Market Master Plan (CMMP) in November 2014 and has continued to implement the initiatives, which are designed to reposition the Nigerian Capital Market as an attractive investment destination and a critical facilitator of capital formation for the accelerated growth and development of the Nigerian economy.<\/span><\/span><\/p>\n

Some of the CMMP initiatives that have been implemented include; Direct Cash Settlement, regularisation of multiple subscriptions, dematerialization of share certificates, and the introduction of the e-Dividend Management System. The CMMP initiatives have helped in promoting transparency, protecting investors and enhancing market confidence. The objectives of the CMMP are also in consonance with the Federal Government\u2019s economic strategy, focused on encouraging a private sector-led economy to drive inclusive growth.<\/span><\/span><\/p>\n

Expected p<\/span><\/span>articipants at the CMC meeting include Chief Executive Officers (CEOs) of all registered ca<\/span><\/span>pital market firms (i.e. Broker\/<\/span><\/span>Dealer<\/span><\/span>s<\/span><\/span>,\u00a0<\/span><\/span>Investment Advisers<\/span><\/span>, Custodians, Fund<\/span><\/span>\/Portfolio<\/span><\/span>\u00a0Managers,\u00a0<\/span><\/span>Receiving Banks,\u00a0<\/span><\/span>Issuing Houses, Rating Agencies, Registrars, Reporting Accountants, Trustees, and\u00a0<\/span><\/span>Capital Market\u00a0<\/span><\/span>Consultants, etc.); Chief Executive Officers of<\/span><\/span>:<\/span><\/span>\u00a0the Nigerian Stock Exchange (NSE); National Association of<\/span><\/span>\u00a0Securities Dealers (NASD);\u00a0<\/span><\/span>FMDQ<\/span><\/span>\u00a0Group Plc<\/span><\/span>; Africa Exchange Holdings (AFEX); Nigeria Commodity Exchange (NCX); Central Securities Clearing System (CSCS); as well as representatives of relevant financial sector \u00a0regulatory agencies, among others.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission (SEC) has announced that the\u00a0first\u00a0Capital Market Committee (CMC) meeting in 2020\u00a0is\u00a0scheduled to hold\u00a0from\u00a0Thursday August 20 to Friday August 21, 2020.\u00a0A CMC Meeting planned for April 2020 could not hold owing to the prevailing lockdown imposed by the FGN during the period.<\/p>\n","protected":false},"author":6,"featured_media":23145,"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":[2391],"class_list":["post-42202","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-sec"],"yoast_head":"\nSEC Holds 1st CMC Meeting 2020 - 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\/the-securities-and-exchange-commission-sec-has-announced-that-the-first-capital-market-committee-cmc-meeting-in-2020-is-scheduled-to-hold-from-thursday-august-20-to-f\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC Holds 1st CMC Meeting 2020 - 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