The Securities and Exchange Commission (SEC) Nigeria, in collaboration with the Nigeria Employers’ Consultative Association (NECA), is set to inaugurate the Securities Issuers Forum (SIF) via a webinar this Wednesday for Chief Executive Officers and Company Secretaries of public companies in the country.
The Commission in a statement issued at the weekend, indicated that the Forum has, among other objectives, to Maintain regular contact with the regulator and policy makers; and Advise the regulator and policy makers on regulations affecting companies/issuers and conduct research, organize conferences, roundtable discussions and other events for the benefit of members.
According to the capital market regulatory institution, the Forum is to promote sound corporate governance and ethical conduct among members: promote healthy competitiveness among members and maintain an enabling business environment by monitoring issues of direct relevance to members.
The commission further stated that the need for a Forum for Issuers had become expedient in order to enable issuers monitor and respond to developments in financial regulation and/or government policies.
The SEC clarified: “The forum will also serve as a medium of regular engagement between SEC and issuers of securities in order to address challenges, improve the business environment and enhance contribution of the capital market to the growth of the Nigerian economy.
“It is expected that with the establishment of SIF, SEC will be better positioned to engage issuers on capital raising opportunities to facilitate increased participation in the capital market, development of new products to meet funding needs and addressing issues relating to compliance with regulatory requirements. In all, SIF has the potential to shorten the distance between SEC and issuers of securities”, it added.
It further stated that the establishment of SIF had the potential for far-reaching direct and indirect impact on other stakeholders by providing a wider range of investment opportunities and portfolios for investors, improving access to capital to fund expansion projects and new ventures, deepening and broadening the capital market and increasing its contribution to the nation’s development.
