The Securities and Exchange Commission(SEC) released a list of capital market operators who complied with the new minimum capital requirement after the capital verification exercise.
This list was based on the consideration of the reports on capital verification and the responses received from the affected Capital Market Operators (CMOs).
In all, twenty-four (24) CMOs were disqualified for non-compliance and/or inability to substantiate claim of compliance based on queries raised by the audit firms. In addition, 16 new CMOs were added on the list, ten (10) of which were newly registered companies and six (6) filed evidence of compliance after the release of provisional list which were verified and accepted.
SEC had earlier in December 2015 revoked the licenses of some stockbrokers and capital market operators that were inactive and warned the public from conducting business with them.
To view the complete list of capital market operators, Click Here.
