The Securities and Exchange Commission has issued a directive mandating all registered capital market operators to complete the renewal of their registration process on or before April 31, 2021, stating that CMOs yet to renew their registration at the expiration of the deadlineshall not be eligible to operate in the capital market.
Consequently, the commission stated that all CMOs are expected to note that late filing for renewal of registration shall only be entertained from May 1, 2021 to May 31, 2021, while the names of CMOs that have renewed their registration shall be published on the SEC website/newspapers and communicated to the relevant securities exchanges and trade associations for their notification.
“Consequently, the commission said it has amended its rules and reintroduced the requirement for yearly renewal of registration by all CMOs. This process will be carried out electronically to ensure efficiency. All CMOs were directed by the SEC to complete the process of renewal of registration for 2021 on or before 30th April 2021.”