Nigeria’s Securities and Exchange Commission (SEC) has won the 2013 Africa Index Series Award for the “Most innovative Capital Markets Regulator” the second year in a row. Winning the award back – to – back, is due to several multifaceted reforms over a three-year period, according to the SEC.
Factors considered by the judges to award SEC include, commitment to increasing transparency and efficiency, support for innovative technologies, employment of best regulatory practices, openness to foreign investors, investor protection (e.g. rules to prevent dilution and protect minority shareholders), visible impact and participation in industry associations such as International Organisation of Securities Commission (IOSCO) and efforts to create an enabling environment for the capital markets industry.
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This article was first published on 29th September 2013