As part of efforts to identify investors properly, guard against flow of illicit funds into the capital market and address challenges associated with identity management generally, the Securities and Exchange Commission has developed a standardised Investor’s Data and Consent Form to be adopted by all capital market operators.
According to the Acting Director General of SEC, Ms. Mary Uduk, the form would assist CMOs in collecting and updating investors data as well as enable CMOs to obtain consent of investors for implementing capital market initiatives targeted at improving overall experience and participation in the capital market.
Uduke noted that identity management has been a problem not just in the capital market but in many sectors of Nigeria’s economy, assured stakeholders that the commission is handling it in the capital market.