Finance Minister tasks SEC Board on innovation, arbitrage

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has charged the new Securities and Exchange Commission board to embrace innovation in order to effectively regulate the dynamic capital market.

The Minister also highlighted the need for the SEC board to address arbitrage in the market, stating that it was crucial for the board to “be willing to accept the challenge of regulating new areas.” “Therefore, you do have to be on your toes. The good thing is that when a transaction comes, it has to be discernible, understandable to the end investor, it has to be understandable to the issuer, it has to be understandable to the regulator or it won’t get the approval it needs, so that is one comfort I see about the financial market.”

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