![]() Recall that Mounir Gwarzo, director general, Security and Exchange Commission (SEC) said his tenure will principally be focused on implementation of the capital market master plan, which among others is aimed at making people understand who is who in the capital market as well as ensure that a formidable platform is put in place to bear the future of the capital market appendages while SEC works to ensure that global best standards are brought to bear in the capital market.Įfiok Effiong and Mary Uduk, director, investment management department, SEC represented the director general of SEC. Oyebola also reminded firms within FMAN who have not met the recapitalisation target set by SEC to do so, noting that there is not likely to be an extension of the deadline earlier given by the apex regulator. FMAN enjoins its member firms to commence the practice of asset segregation – that is to separate its asset from clients’ asset before SEC begins to enforce compliance. ![]() “With the approval of the acceptance of voters card as a Know-Your-Customer (KYC) document, effort are in top gear to put together a mobile money platform that will address the various need of member firms”, he added. Oyebola noted that about N695 billion is under management, comprising about N200 billion housed under the Collective Investment Scheme (CIS) and N495 billion being funds under management.Īlso, FMAN has commenced strategic moves to position itself to perform fund management role in the pension industry which under the effective and efficient regulation by PENCOM has assets grown to about N4.9 trillion.
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