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S.E.C DIRECTIVE

Further to the issuance of the regulatory directive by the Securities and Exchange Commission, we would like to appreciate the efforts of dealing members that have endeavoured to provide CSCS with updated investor data. Consequently, and in collaboration with the relevant stakeholders, the relevant capital market operators are advised as follows.

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1

The Role of Brokers

2

Compulsory Fields

3

The Role of Registrars

What is my role as a broker?

Brokers are to capture full information in respect of new clients and update information of their existing clients.
Brokers should ensure such information are validated.

What are the compulsory fields?

  1. Name of Investor
  2. Bank account number
  3. Bank account name
  4. Bank Verification Number (BVN)
  5. Telephone Number
  6. Email Address
  7. Address of Investor

What am i expected to do as a Registrar?

Registrars should ensure that new or updated investors/shareholders information transmitted to them are properly captured in the relevant company's registers of member

Signed: Management