Taybat Ade-Ola
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All capital market operators planning mergers and acquisitions or any reclassification of their functions have been issued a July 31 deadline to formalise such arrangement
The Securities and Exchange Commission (SEC) directive also applies to capital market operators seeking to downsize from stockbroker to sub-broker, broker-dealer to either broker or dealer and from multiple functions to a single function, among others.
The NATION NEWSPAPER reports that the directive, is part of the compliance and enforcement process as the apex capital market regulator prepares to enforce the September 31 deadline for the new minimum capital requirements for capital market operators.
Some capital market operators have been considering mergers and acquisitions to stave off liquidation.
The Securities and Exchange Commission (SEC) directive also applies to capital market operators seeking to downsize from stockbroker to sub-broker, broker-dealer to either broker or dealer and from multiple functions to a single function, among others.
The NATION NEWSPAPER reports that the directive, is part of the compliance and enforcement process as the apex capital market regulator prepares to enforce the September 31 deadline for the new minimum capital requirements for capital market operators.
Some capital market operators have been considering mergers and acquisitions to stave off liquidation.
