The Securities and Exchange Commission (SEC) has said that it would partner with the Nigeria Employers Consultative Association (NECA) to reconcile the expectation of issuers and regulatory requirements.
This was shared virtually by the Director-General, SEC, Lamido Yuguda, at the inauguration of the Securities Issuers Forum by the commission.
Yuguda pointed to other countries such as the US and South Africa that have existing associations that protect the needs of issuers of securities.
He said, “The idea of a forum for issuers of securities is not novel as such fora exist in other parts of the world to cater to the interests of issuers of securities in the capital market. In Europe, the European Issuers acts as the voice of issuers of securities representing over 8,000 companies and national associations of issuers of securities.
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“In the United States of America and South Africa, the American Securities Association and the Debt Issuers Association respectively serve as the associations for issuers of securities.
“In Nigeria, the Nigeria Employers Consultative Association (NECA) the umbrella body for over 3,000 members seeks to protect the interests and rights of businesses and ultimately influence policy making.
“By encouraging the establishment of the SIF in collaboration with NECA, the SEC hopes to bridge the gap that exists between the expectations of issuers and the requirements of the regulator.”
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