Posted by By Jerome Ushakang on
The Investment Securities Tribunal (IST) and the United States Securities Commission (US SEC ) is to host a five-day training workshop on Securities Regulation, Enforcemennt and Anti-Money laundering beginning from September 19--23 2005 in Abuja.
The Investment Securities Tribunal (IST) and the United States Securities Commission (US SEC ) is to host a five-day training workshop on Securities Regulation, Enforcemennt and Anti-Money laundering beginning from September 19--23 2005 in Abuja.
The workshop which is in collaboration with the Nigerian Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) would be the first of its kind in West African sub-region.
At a press conference organised by the NSE yesterday, preparatory to the workshop, the Director-General, Dr. (Mrs) Ndi-Okereke Onyiuke said the international training programme is aimed at exposing operators in the African Regional Capital markets to the latest developments in the international securities regulations.
According to her, the training programme would cover a wide range of issues, such as Capital Adequacy in the Securities Market, Dispute Resolution Procedures, Adjudication in the Capital Market, Investigative Techniques and key issue,Surveillance Techniques in Emerging Capital market, Legal and Policy Framework for Capital Market Development and Registration of Broker-Dealers and licensing of Employees of Broker-Dealers.
Other topics scheduled for the programme include Broker-Dealer Record keeping, Reporting, Financial Responsibility and other Prudential Guidelines, Roles of Self-Regulatory Authorities, Rules of Conduct and Securities Regulations of General Applicability to Broker Dealer Compliance Procedures, Insider Dealings,market manipulation and SEC Enforcement Investigations and prosecutions, Offering, Frauds and Boiler Rooms.
Onyiuke Explained that investor confidence is essential to the growth and development of the capital market worldwide. She added that an astute investor is interested in the regulatory framework of the market, integrity of the regulators and the operators as these issues amongst others define the investor protection strategy of a capital market. She revealed that Economic and Financial Crime Commission (EFCC)is expected to present a paper on their efforts to tackle money laundering.
In her response, the Chairlady of Investment Securities Tribunal Dr. (Mrs) Nnenna Orji stated that it will be the first time U S SEC is coming to Nigeria to train market operators. She said it was an opportunity for stockbrokers to horn their crafts in line with international standards.
Orji emphasised that this has become necessary because the word now is a global village as what affects one affects all.
The Chairman, Planning Committee and member of IST, Alhaji Aminu Dangana disclosed that in 2004, SEC negotiated with US SEC for the training programme and is happy that many market operators will benefit immensely.
He said SEC intends to globalised its activities taking a cue from NSE. Also speaking, a representative of Direstor-General SEC, Mr. Isaiah Akor Idoko urged all market operators to attend in order to get the training and knowledge as the opportunity may not present itself.