The Director-General, Securities and Exchange Commission (SEC), Mr Lamido Yuguda, has vowed to sanction any capital market operators who engage in unethical conduct.
He made this statement at the Annual Stockbrokers Conference of the Chartered Institute of Stockbrokers held in Lagos.
Yuguda said the commission had resolved to intensify monitoring and surveillance of the market.
According to him, “Operators are the face of the market and they interact daily with investors, therefore they have to demonstrate the highest level of integrity and transparency in conducting their activities.”
He said, “Most of our more recent efforts at developing our market are targeted at contributing to the growth of the national economy. For instance, the core objective of the 10-year Capital Market Master Plan is to position the capital market for accelerated development of the national economy.
“Some level of success has been recorded from its implementation so far and efforts are currently ongoing to re-launch it for better impact during the remaining period of its implementation.”
He urged the institute to mandate its members to take annual professional development programmes that would address the emerging issues in the industry.