The United States’ Securities and Exchange Commission (SEC) on Wednesday voted to propose amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds. A news release by the Commission stated that the proposed amendments were designed to enhance the Financial Stability Oversight Council’s (FSOC) ability to assess systemic risk […]
Investments/Capital Market
London Global Reinsurance Market Share Dips 2%
Despite being the largest re/insurance market globally, the London Market has continued to face challenges and while primary business has expanded minimally over the past decade, its reinsurance market share has shrunk by 2%. Only yesterday, the House of Lords Industry and Regulators Committee opened its inquiry into the regulation of the UK commercial insurance […]
DMO Lists FGN 2021 $4Bn Eurobonds On FMDQ Exchange
The Debt Management Office (DMO) has listed Federal Government of Nigeria (FGN) 2021 $4 billion Eurobonds on the FMDQ Group Securities Exchange in furtherance of its efforts to build investor confidence and also secure investments in the securities market. The DMO on its website stated that the Eurobond was listed in three tranches of seven […]
CRC Credit Bureau Secures CIBN’s Accreditation For Education, Training Services
The CRC Credit Bureau Limited had secured the Certificate of Accreditation as an Education/Training Service Provider (ETSPs) of the Chartered Institute of Bankers of Nigeria (CIBN). The certificate was presented on Tuesday by the Institute’s President/Chairman of Council, Dr. Bayo Olugbemi to the Bureau’s Group Managing Director/CEO, Dr. ‘Tunde Popoola, in furtherance to receiving the […]
U.S SEC Issues Over $40Mn Awards To Four Whistleblowers
The United States’ (U.S’) Securities and Exchange Commission (SEC) on Friday announced three awards totaling more than $40 million to four whistleblowers, who provided information and assistance in three separate covered actions. In the first order, the commission issued an award of approximately $37 million to two joint whistleblowers, who provided key evidence that contributed […]
Industry Expert Tasks African Banks On Improved Funding Of Oil Sector
To address the current challenges constraining optimal output from Africa’s oil-producing countries and ensure sustainable growth of the hydrocarbon resources industry, an industry expert, Mr. Kola Karim, has charged banks in the continent to commit more funds to critical value chains in the sector. Karim, who gave the charge during an interview with African Energy […]
SEC Commends NGX, CSCS, Others On Market Devt Initiatives
The Securities and Exchange Commission (SEC) Nigeria has commended the Nigerian Exchange Limited, the Central Securities Clearing System and other capital market stakeholders for professionally working to develop the Market while pulling through the challenges brought by COVID-19 Pandemic and its variants. Director General of the SEC, Mr. Lamido Yuguda, who spoke at a meeting […]
U.S’ SEC Charges 5 Russians In $80Mn Hacking, Trading Scheme Scams
The United States’ (U.S’) Securities and Exchange Commission on Monday announced fraud charges against five Russian nationals for engaging in a multi-year scheme to profit from stolen corporate earnings announcements obtained by hacking into the systems of two U.S.-based filing agent companies before the announcements were made public. A statement by the commission relating to […]
JPMorgan Admits Recordkeeping Failures’ Charges, To Pay $125Mn Penalty
The United States’ (U.S’) Securities and Exchange Commission at the weekend announced charges against J.P. Morgan Securities LLC (JPMS), a broker-dealer subsidiary of JPMorgan Chase & Co., for widespread and longstanding failures by the firm and its employees to maintain and preserve written communications. The firm admitted the facts set forth in the SEC’s order […]
SEC Nigeria To Begin Regulatory Fee on Fixed Income Transactions From Jan 2022
The Securities and Exchange Commission (SEC) Nigeria is to commence regulatory fee on fixed income (Bonds) secondary market transactions with effect from January 1, 2022. This disclosure was contained in a Circular dated December 15, 2021 and signed by the commission’s management. According to the Commission, the circular is made pursuant to Section 13(u) of the […]