LANDMARK –The achievement is a reflection of the Exchange’s collaborative approach to regulation.
The Nigerian Stock Exchange (NSE) has announced that it recorded a 100% compliance rate with the Dealing Member regulatory filings for the second quarter renditions for the period ended 30 June 2015, which was due on 17 August 2015.
This attainment bodes well with the Exchange’s implementation of its zero tolerance policy for infractions as all active Dealing Members of The Exchange are expected to submit their returns within the required timelines.
The Chief Executive Officer of the NSE, Oscar N. Onyema, in a statement, said, “The achievement is a reflection of the Exchange’s collaborative approach to regulation, with a strong emphasis on relationship management within an ethical problem solving prism. We believe that this approach is key to developing a strong and sustainable capital market.”
Commending the Dealing Members for the achievement Mr. Onyema stated that “this milestone is underpinned by Dealing Members buy-in to the Exchange’s vision to be the foremost securities exchange in Africa driven by regulation, efficiency, liquidity and innovation. The Exchange is keenly aware of the burden of regulation on the Dealing Member community and therefore they deserve the kudos of their high sense of compliance despite the challenging times.”
He further said, “This landmark achievement serves to remind us, not only that we have come a long way in our journey to transform the Nigerian capital market but also that our great hopes and aspirations for this market are not a pipe dream no matter how daunting the challenges ahead of us.”