TUE, 10 NOV, 2020-theGBJournal-The Security and Exchange Commission (SEC) today served pre-notice on cancellation/ withdrawal of certificates to 157 inactive capital market operators (CMOs) registered by the Commission for various functions in the Nigerian capital market.
SEC said ‘’the CMOs have consistently failed to render their statutory returns to the Commission, had their capital eroded, while others were affected by policy changes.’’
‘’In view of this fact, the Commission hereby request the affected CMOs to make presentations to the Commission, on or before 13th November, 2020, giving reasons why their registration should not be cancelled.’’
SEC is requesting hard copies of the presentations to be forwarded to the Commission’s head office while soft copies should be sent to also to inspectorate@sec.gov.ng or monitoring@sec.gov.ng.
Notable names in the list of affected CMOs include AIMS Asset Management Limited, Amalgamated Capital Funds Ltd, Citi Asset Mgt ltd, Custodian & Allied Insurance Plc, LASACO Assurance Plc, Leadway Assurance Co. Ltd, UAC Registrars Ltd, Union Homes Savings & Loans Plc, Wema Asset Management Ltd and Wema Securities & Finance Plc.
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