SEC Sets May 31 Deadline For CMOs Renewal
The Securities and Exchange Commission (SEC) has asked all registered Capital Market Operators (CMOs) to complete its registration renewal process before May 31, 2021.
A circular on Monday by SEC said it would start entertaining late filing for renewal from CMOs from May 1, 2021 to May 31, 2021.
Recall that in March 2021, the Commission re-introduced the renewal of registration by capital market operators (CMOs), after almost twelve years of halting the periodic process.
In the circular by SEC, the capital market regulator said operators in the sector would now be required to renew their registration which was billed to end before April 30, 2021.
But in an update, SEC said CMOs that fail to renew their registration before May 31, shall not be eligible to operate in the capital market.
“The Securities and Exchange Commission (SEC) wishes to inform all registered Capital Market Operators (CMOs) that in line with the requirements for renewal of registration, all CMOs are required to complete the renewal process on or before April 30, 2021.
“Late filing for renewal of registration shall only be entertained from May 1, 2021 to May 31, 2021.*
The commission added that, “The names of CMOs which have renewed their registration shall be published on the SEC Website/National Daily Newspapers and communicated to the relevant Securities Exchanges and Trade Associations for their notification.
“CMOs yet to renew their registration after May 31 2021, shall not be eligible to operate in the capital market.”
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