May 10, 2022 8:50 AM
The Securities and Exchange Commission says it is proposing some guidelines that will enable operators and investors in the capital market to digitise all their operations.SEC said the guidelines are contained in the minimum operating standards for information technology for capital market operators .
It added that it would establish a threshold for operational efficiency in the market through effective adoption of information technology in driving businesses to ensure security, confidentiality, integrity, and reliability of information systems.“This will help operators harness the huge benefits derivable from the adoption of technology and also manage the attendant cyber-security threats and other risks that accompany the use of technology,” SEC said.
“It will also positively impact on the effectiveness and efficiency of the Commission to monitor and regulate all capital market operators in the market.” The commission said the provisions of the document would apply to all categories of CMOs unless in sections where reference was otherwise made to specific categories of operators.
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