SEC issues warning to violators in capital market: nowhere to hide

he Nigerian law to ensure that we deter unscrupulous persons who are involved in trying to defraud Nigerian investors,” Mr Agama emphasized.The director-general reiterated the commitment of the SEC to guaranteeing that all participants in the market comprehend the responsibilities of the commission. Compliance and information disclosure were highlighted as crucial aspects to the efficient operation of the capital market, with Mr Agama underscoring that they are the core objectives of securities regulation.He urged both existing and potential market participants to collaborate closely with the commission to promote the development of the market. Emphasizing the significance of a well-protected investor, Mr Agama stressed the determination of the SEC to utilize all available means within the confines of the law to prevent fraudulent activities that may harm Nigerian investors.It is evident that the recent measures taken by the SEC, such as the revocation of licenses and the suspension of unregistered operators, are just the beginning of a series of actions planned for the year ahead. Mr Agama expressed the belief that safeguarding investors will empower them and create a more robust market environment for everyone involved.He outlined the necessity for market operators to adhere strictly to the requirements set forth in the ISA 2007 and other regulatory frameworks established by the SEC. This fit and proper person’s test serves as a benchmark to ensure that operators are qualified to engage in market activities without risking the interests of investors.Mr Agama highlighted the importance of transparency, integrity, and accountability in the operations of securities market operators. The SEC is keen on eliminating any opportunities for fraudulent individuals seeking to exploit unsuspecting investors. Therefore, vigilance and compliance with regulations are paramount in preserving the integrity of the capital market.The commitment of the SEC to maintain a fair, efficient, and transparent market ecosystem is unwavering. Investors can rest assured that the commission is dedicated to upholding the highest standards of ethics and professionalism in the Nigerian capital market. With a focus on investor protection and market integrity, the SEC is poised to root out any wrongdoings and ensure a level playing field for all participants.Following the warning issued by the director-general, it is evident that the SEC is on high alert and will not hesitate to take necessary actions against any individuals or entities found engaging in fraudulent activities within the capital market. This stringent approach underscores the commission’s unwavering commitment to safeguarding investors and upholding the principles of fairness and transparency in the market. Investors and market participants alike are encouraged to adhere to regulatory requirements and work closely with the SEC to foster a vibrant and resilient capital market ecosystem.