Post Views: 415 The Securities & Exchange Commission (SEC), on Wednesday announced a deadline of December 31, 2018, for all capital market operat...
The Securities & Exchange Commission (SEC), on Wednesday announced a deadline of December 31, 2018, for all capital market operators to register with their Trade Groups/Associations.
A statement by the SEC management directed operators to submit evidence of such registration to the Commission not later than December 31, 2018.
The statement reminded all Capital Market Operators of Rule 25(1)(a) of the SEC Rules and Regulations (as amended) on Membership of Self-Regulatory Organizations (SROs). The Rule provides that “Every person registered to perform any function in the market shall be a member of an SRO or a Trade Association relevant to its function”.
Defaulting operators, the SEC noted”shall be sanctioned in line with the SEC Rules and Regulations.”