Author Topic: SEC MOVES TO RESCUE STOCK MARKET  (Read 9524 times)

Offline Prince

  • Administrator
  • Honorable
  • *****
  • Posts: 32,949
  • Country: ng
  • Gender: Male
  • OS:
  • Windows XP Windows XP
  • Browser:
  • Firefox 3.5.7 Firefox 3.5.7
    • View Profile
SEC MOVES TO RESCUE STOCK MARKET
« on: February 08, 2010, 03:01:50 PM »
SEC moves to rescue stock market
…To adopt recommendations of Capital Market Comm
By KELECHI MGBOJI
Monday, February 8, 2010

The Director General of Securities and Exchange Commission, Ms Arunma Oteh, yesterday unveiled a five-point road map for rebuilding the Nigerian capital market vowing that her immediate priority of the reform agenda is to restore investor confidence.

Briefing newsmen on Friday, in Lagos, the newly appointed SEC DG said that the commission was going to adopt recommendations of the I5-man Capital Market Committee established to review the capital market late 2008.

"The 32 key recommendations articulate the reforms that are needed to lift the capital markets and these recommendations have laid the foundation for some of the key issues that we will be undertaking in SEC", Oteh said.
She noted that well functioning Capital Markets are essential to Nigeria's economic development stressing that to realize its full potential, the country must have a world class capital market that is strong, sustainable, well-functioning, and plays a central role in the economic development of the nation.

While vowing to adopt a zero tolerance policy against all infractions in the market place, she disclosed readiness of the commission to implement all measures to pull the market back from the brinks and position it as one of the leading capital markets in the continent.
"First of all, we have to increase the depth, breadth and sophistication of the market. There are a limited number of asset classes as the market is dominated by equity investments. Therefore we need to expand market offerings to include products such as fixed income securities. Hedging instruments such as futures and other derivatives need to be promoted as well as securities lending and Collective Investment Schemes", Oteh stated.

She also said that there was need to improve efficiency and cost competitiveness in all
aspects of the market as the high transaction costs are a huge deterence to companies wishing to list in the market.
She pointed out a fundamental need to strengthen regulatory oversight adding that on their part, SEC would improve the effectiveness of market regulation, oversight and supervision and also strengthen the SEC- in terms of its capacity and operations.
The SEC DG added that disclosure, transparency and accountability are also key issues that need to be addressed in the market saying that the commission must continue to send the right signals about the critical importance of integrity and transparency as critic, ingredients of good corporate governance.

Finally Oteh noted the need to establish strong institutions across the market and instill principles of risk management into capital market operations.
"We need the cooperation of all market operators to ensure that the SEC has access to a set of reliable information about operations in the capital markets. The SEC and the NSE will also be collaborating to update, implement, monitor and enforce a comprehensive risk management framework that reliably keeps systemic risk in check", the SEC boss concluded.
It could be recalled that as the capital market meltdown lasted there were deafening calls from stakeholders for far-reaching restructuring of the Exchange. Matters came to a head when the SEC Committee on the Nigerian Capital Market recommended sweeping changes in the market structure and processes, such that would definitely affect many areas of NSE and SEC operations if implemented. The recommendation which also proposed for a demutualization of the NSE was a subtle way to say that both regulators had failed to exercise efficiently their regulatory roles to stem the tide of fraud and sharp practices rife among market operators to the detriment of investors.

Critics in favour of sweeping changes beginning with the leadership of the regulatory bodies argue that since the recommended market reform is meant to clear the mess of the past, it is doubtful that leadership of the regulatory bodies will ensure faithful implementation of the Committee’s recommendations. For them if a new leadership is not put in place before the restructuring exercise begins, the credibility question will continue to haunt the market.

Advertisements


Nigerian Best Forum . NBF

SEC MOVES TO RESCUE STOCK MARKET
« on: February 08, 2010, 03:01:50 PM »

Enter Your Email Below For Daily Jobs Updates, It's Free

100% Free


Offline Prince

  • Administrator
  • Honorable
  • *****
  • Posts: 32,949
  • Country: ng
  • Gender: Male
  • OS:
  • Windows XP Windows XP
  • Browser:
  • Firefox 3.5.7 Firefox 3.5.7
    • View Profile
Re: SEC MOVES TO RESCUE STOCK MARKET
« Reply #1 on: February 08, 2010, 03:02:18 PM »
Still in rescue period.

Advertisements


Offline Nigeriana123

  • Jr. Member
  • Posts: 85
  • Gender: Male
  • GET IT RIGHT ALWAYS
  • OS:
  • Windows Vista Windows Vista
  • Browser:
  • Firefox 3.0 Firefox 3.0
    • View Profile
Re: SEC MOVES TO RESCUE STOCK MARKET
« Reply #2 on: March 09, 2010, 04:53:32 AM »
Nigerian Stock Market is not yet attractive
Best HYIP hxxp: biotechinvfund. com/?ref[id]=EP1562

krisrichly

  • Guest
Re: SEC MOVES TO RESCUE STOCK MARKET
« Reply #3 on: August 19, 2010, 03:56:13 PM »
awesome

Offline MalcomWagon

  • Cadet
  • Posts: 10
  • Gender: Male
  • OS:
  • Windows XP Windows XP
  • Browser:
  • Firefox 2.0.0.20 Firefox 2.0.0.20
    • View Profile
Re: SEC MOVES TO RESCUE STOCK MARKET
« Reply #4 on: September 08, 2010, 09:57:55 AM »
A observant amend on the part of a hold up can really help him to get the most excellent penny stocks for him which will acquire high come back on funds.  Madpennystocks. com offers you stock quantity alerts, stock information alert along with break outs.  It also gives you impetus alerts and complete study.

Thanks
www. madpennystocks. com

Offline IKOFX

  • Full Member
  • *
  • Posts: 112
  • Gender: Male
  • OS:
  • Linux (Ubuntu) Linux (Ubuntu)
  • Browser:
  • Firefox 3.6.18 Firefox 3.6.18
    • View Profile
Re: SEC MOVES TO RESCUE STOCK MARKET
« Reply #5 on: August 03, 2011, 02:40:33 AM »
I think that the integrity of the stock market should be strengthen first.   It is the public trust that make a stock market to become a stronger and successful one. 

Currency Trading
IKO Forex Limited - The Ideal Place for Forex Trading

Offline fxapex

  • Jr. Member
  • Posts: 66
  • Country: in
  • Gender: Male
  • OS:
  • Windows 7/Server 2008 R2 Windows 7/Server 2008 R2
  • Browser:
  • Firefox 23.0 Firefox 23.0
    • View Profile
  • Age: 28
Re: SEC MOVES TO RESCUE STOCK MARKET
« Reply #6 on: September 29, 2013, 02:18:05 PM »
stock market has to be very efficiently regulated to keep it away from fraudsters. . . . . . . . . . . . . .

Offline hermawati

  • Semi Cadet
  • Posts: 5
  • Country: id
  • Gender: Female
  • OS:
  • Windows NT 6.2 Windows NT 6.2
  • Browser:
  • Firefox 24.0 Firefox 24.0
    • View Profile
  • Age: 34
  • Location: indonesia
  • Profession: seller
Re: SEC MOVES TO RESCUE STOCK MARKET
« Reply #7 on: October 31, 2013, 02:46:35 PM »
U. S.  stock is very very worsen along this month, it's should be alert for all market makers, they must thinking twice to make and cooperate with. . .

Offline Pretame

  • New
  • Posts: 1
  • Country: us
  • Gender: Male
  • OS:
  • Linux Linux
  • Browser:
  • Chrome 46.0.2490.80 Chrome 46.0.2490.80
    • View Profile
  • Age: 26
  • Location: NY
  • Profession: Manager
Re: SEC MOVES TO RESCUE STOCK MARKET
« Reply #8 on: December 04, 2015, 04:51:59 PM »
Stock market is looking bad considering the crash in the major exchanges like china and bubble in us exchanges and now there is a forecast for stock market crash 2016. 
hxxp: www.  profitconfidential.  com/stock-market/u-s-stock-market-crash-in-2016/
  Will it effect us and how much?


Post Merge: December 04, 2015, 04:55:22 PM
Quote from: hermawati link=topic=64961. msg662482#msg662482 date=1383227195
U.  S.   stock is very very worsen along this month, it's should be alert for all market makers, they must thinking twice to make and cooperate with.  .  .

Stock market is looking bad considering the crash in the major exchanges like china and bubble in us exchanges and now there is a forecast for stock market crash 2016. 
hxxp: www. profitconfidential. com/stock-market/u-s-stock-market-crash-in-2016/
  Will it effect us and how much?
« Last Edit: December 04, 2015, 04:55:22 PM by Pretame »

 

ads

Enter Your Email Below For Daily Jobs Updates, It's Free

100% Free