The Securities and Exchange Commission (SEC) has unveiled plans to publicly identify capital market operators (CMOs) who violate market regulations, with the aim of promoting transparency and enforcing market discipline.
In a notice shared on Sunday via its official X page, SEC revealed that it will begin publishing the names of defaulting CMOs in a “name and shame” journal.
The Commission said the initiative is part of its broader strategy to uphold market integrity and increase investor confidence.
“Stakeholders and the general public are hereby informed that henceforth, the names of Capital Market Operators (CMOs) found to have violated market laws/regulations would be published in the Commission’s ‘name and shame’ journal,” the notice stated.
SEC clarified that the publication of offenders’ names would be in addition to any penalties outlined in the Investments and Securities Act (ISA) 2007, as well as SEC Rules and Regulations.
The commission emphasized that this enforcement strategy reflects its zero-tolerance policy toward market infractions, ensuring strict compliance with regulatory standards.
“This enforcement strategy underscores the Commission’s dedication to safeguarding the integrity and stability of the Nigerian capital market, protecting investors, and ensuring strict adherence to established rules and regulations,” SEC said.
Market operators and stakeholders were urged to comply with the regulations to avoid facing penalties.
The announcement follows SEC’s ongoing efforts to crack down on non-compliant entities in the capital market.
On March 14, 2025, SEC disclosed the suspension of Centurion Registrars Limited, along with its sponsored individuals and directors, from all capital market activities due to “unresolved complaints.”
Additionally, the commission revoked Mainland Trust Limited’s capital market registration over “regulatory violations.”
