Stockbroking firms record 100% compliance with regulatory filings

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The Nigerian Stock Exchange (NSE) has said that the dealing member firms have recorded 100 per cent compliance rate in their regulatory filings for the second quarter ended June 30, 2015 A statement signed by Olumide Orojimi, Head, Corporate Communications of the Exchange quoted Mr. Oscar Onyema, CEO, NSE, as saying that 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.

He added that ‘this approach is key to developing a strong and sustainable capital market’.

Onyema further explained that ‘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’.

He also commended the dealing members for the achievement, saying that the 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’ Onyema declared.

The Exchange’s bold steps towards creating a fair and orderly market have received both local and international recognition.

It was recently named African Regulator of the year, 2015 by the African Leadership Magazine UK and also received the 2015 Award for Promoting Best Practice Reporting and Corporate Disclosure from the Lagos Chamber of Commerce & Industry