Uduk, New SEC Acting DG, Chairs First CMC Meeting Thursday

Uduk, New SEC Acting DG, Chairs First CMC Meeting Thursday

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Post Views: 501 Caption: Mrs. Mary Uduk (middle), new Acting DG of SEC, during a past CMC meeting. Newly appointed Acting Director-General of the Secu...

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Caption: Mrs. Mary Uduk (middle), new Acting DG of SEC, during a past CMC meeting.

Newly appointed Acting Director-General of the Securities & Exchange Commission (SEC), Ms. Mary Uduk, will on Thursday, April 19, 2018 chair the Capital Market Committee (CMC) meeting, the first since her appointed at the weekend.
Ms. Uduk, until last Friday, was Coordinating Director, Operations, was appointed by Finance Minister, Mrs. Kemi Adeosun, in line with provisions of the Investments and Securities Act (ISA), 2007 and the conditions of service applicable to the Director-General of the Commission.
She replaced Dr. Abdul Zubair was directed to return to his previous position as head, External Relations Department.
Ms Uduk will be assisted at the CMC meeting by three acting Executive Commissioners: Reginald C. Karawusa, Legal and Enforcement; Isiyaku Tilde, Operations; and Henry Roland Adekunle, Corporate Services, who were appointed with her.
The CMC, also the first for 2018 is scheduled to hold in Lagos from Thursday April 19 to Friday April 20, 2018, according to a statement by the SEC, would discuss issues such as implementation of the 10-year Nigerian capital market master plan, among other initiatives.
The master plan, which refocuses on doubling the size of the Nigerian capital market over time, as well as economic growth and development was unveiled November 2014.
The statement recalled that the commission has vigorously implemented some initiatives in the Master Plan such as the direct cash settlement, dematerialisation and electronic Dividend Registration, among others with the aim of attracting more investors to the market.
The SEC urged shareholders to take advantage of such initiatives, as they are also aimed at promoting transparency, protecting, enhancing investor confidence, and as part of strengthening the market and accelerating economic development.
The initiatives, the SEC added are in consonance with the economic strategy and focus of the Muhammadu Buhari administration to deepen the capital market as a vehicle for encouraging a private sector-led economy.
The expanded CMC meeting will be attended by Chief Executives of registered capital market operators such as Broker Dealer firms, Capital Market Solicitors, Custodians, Fund Managers, Issuing Houses, Rating Agencies, Registrars, Reporting Accountants, Trustees, and Consultants, among others.
Also expected at the meeting are: Chief Executives of The Nigerian Stock Exchange (NSE), National Association of Securities Dealers (NASD), The Financial Markets Dealers Quotations (FMDQ), Africa Exchange Holdings (AFEX), Nigeria Commodity Exchange (NCX), Central Securities Clearing System (CSCS), Chartered Institute of Stockbrokers (CIS); as well as representatives of relevant Financial service agencies.

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