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SEC reiterates zero tolerance for unethical practices, warns capital market operators

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The Securities and Exchange Commission, SEC, has restated the commission’s resolve to enforce relevant regulations urging newly Inductees to abide by the highest principled standard expected in their profession.

“This ceremony marks the final point at which the inductees become fully fledged dealing members of the Nigerian Stock Exchange, a position of great trust; because now you will be handling investments for individual and corporate investors and this you must do with utmost care and highest standards of integrity and ethical practice to forestall any breach of trust, said Acting Director General of the Securities and Exchange Commission, SEC, Ms. Mary Uduk.

“You must also be determined to bring positive changes into the market as you launch your careers and challenge the status quo in the areas of capacity building and innovativeness, while bringing fresh and innovative ideas into product development, as well as efficiency in service delivery to the investors. 

Uduk who was represented by the Zonal Head Lagos Office of the SEC, Mr. Stephen Falomo, described as a welcome development the induction ceremony for the deserving freshly qualified professionals, who have, by their exemplary performance during their Automated Trading System (ATS) training at the Nigerian Stock Exchange, secured their place in the stock broking profession.

She therefore urged the newly inducted members to ensure that they  all get a good grounding on the relevant technological advancement necessary to ensure that they can cope with the pace in today’s market, while staying ahead of perpetrators of cyber crimes, who may attempt to compromise the market.

 “Let me congratulate all inductees here today. Your qualification and admission to practice as members of the Stock Exchange is indeed a great achievement, which will equally be of benefit to the capital market as a whole. I therefore welcome you to the brokerage community on behalf of the Securities and Exchange Commission

 

 

 

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