The Securities and Exchange Commission has announced plans to publicly shame capital market operators found guilty of violating market laws and regulations.
The commission, in a statement on its Instagram page on Sunday, said the names of erring operators would be published in its “name and shame” journal as part of a broader strategy to enforce compliance and maintain integrity in the Nigerian capital market.
It stated that the measure would be in addition to existing sanctions and penalties outlined in the Investments and Securities Act 2007 and the SEC Rules and Regulations.
“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,” the SEC stated.
The commission advised stakeholders and capital market operators to take note of the new enforcement approach and ensure full compliance with regulatory requirements.
