The Securities and Exchange Commission (SEC), in partnership with the Nigeria Employers’ Consultative Association (NECA), is set to inaugurate the Securities Issuers Forum, Njenje Media News reports.
The Commission, in a statement issued in Abuja over the weekend, stated that the event, which will take place on Wednesday, August 4, 2021, is expected to be attended by Chief Executive Officers and Company Secretaries of public companies.
“The objectives of issuers forums, among others, are to maintain regular contact with the regulator and policymakers: advise the regulator and policymakers on regulations affecting companies/issuers and conduct research, organize conferences, roundtable discussions, and other events for the benefit of members,” according to the statement.
Furthermore, the forum’s mission is to promote sound corporate governance and ethical behavior among members, as well as to promote healthy competitiveness among members and to maintain an enabling business environment by monitoring issues of direct relevance to members.
The necessity for a forum for issuers has become obvious, according to the SEC, in order for issuers to be able to monitor and respond to changes in financial regulation and/or government policy.
“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 the 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” the SEC stated.
The establishment of SIF has the potential for far-reaching direct and indirect impact on other stakeholders by the provision of a wider range of investment opportunities and portfolios for investors, improved 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.