THIS time we focus on the Securities and Exchange Commission and its role in the capital markets. This role is central because it administers the implementation of the Securities Regulation Code .
Since the SEC, the regulator, must register all securities for public sale, and since securities “fuel” the capital market, the number and speed with which securities are registered and their value are the major indicators of progress, i.e, to broaden the capital market. In the Capital Market Development Council in June 2023, the SEC reported that of the 888 target, 627 have been achieved representing 70.61 percent of target. There are still 261 in number of Companies/Issuers needed to be listed/to access capital market to hit the 888 target. The usefulness of targeting is in its power to goad action.