SEC begins technology adoption assessment for capital market operators
The Securities and Exchange Commission (SEC) has started the technology adoption assessment for registered capital market operators (CMOs).
According to the SEC in a circular, on Wednesday, the exercise was to assess the adoption of advanced technologies among registered CMOs.
The notice reads, “The following technology adoption survey is designed by the Commission to assess the adoption of advanced technologies among registered Capital Market Operators (CMO).
“All registered CMOs should access and complete the survey by logging in to the e-portal https://eportal.sec.gov.ng/survey with their current access credentials.
“This survey will be available for two weeks, between May 5 to May 20, 2025.”
The SEC called on all capital market operators to direct their enquiries to innovation@sec.gov.ng.
The director-general of the SEC, Emomotimi Agama, said he had recently urged stakeholders in the capital market to embrace innovation as a catalyst for growth, increased efficiency, heightened transparency, and resilience.
He said that the SEC is aware of the new financial products and services that are emerging due to technology and is committed to adapting its regulations to address these innovations.
According to him, the commission had a three-pronged approach to regulating innovation: safety, market deepening, and solutions to problems.
“This has always, and will continue to help create a more efficient and reliable capital market ecosystem.
“In the efforts to support the innovation and growth in the market, the SEC had established a programme of assessment called Regulatory Incubation to help new FinTech businesses.
“The programme allows them to operate for one year within a highly fortified and limited regulatory perimeter while the SEC develops applicable rules that address these innovative technologies.
“The incubation programme helps ensure investor protection and market stability while fostering financial technology advancements in the Nigerian Capital Market.”
(NAN)
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