SEC partners IST to curb capital market infractions

The Securities and Exchange Commission (SEC), on Tuesday, expressed its readiness to partner with Investments and Securities Tribunal (IST) and other relevant bodies to ensure zero tolerance on infractions in the nation’s capital market.
Its acting Director-General, Abdul Zubair, made the assertion, when the Chairman of the IST, Isaiah Idoko-Akor, and its members paid him courtesy visit in Abuja.
Zubair said the commission would ensure that perpetrators of fraudulent acts were brought to book.
He said the present management of SEC had zero tolerance on infractions, adding that anyone who flouted the rules would be made to face the consequences.
Zubair told the IST team that SEC had embarked on a number of initiatives to protect investors in the market and ensure that they reap the benefits of their investments.
“SEC has rolled out a number of initiatives and campaigns which have been yielding results.
“These initiatives are to ensure that investors are aware of what to do to protect their investments.
“The e-dividend is one of such campaigns, and we enjoin investors to key-in, so that they can reap the benefits of their investments,” he said.
Isaiah Idoko-Akor, the IST Chairman, congratulated the acting SEC DG, on his appointment, expressing the confidence of the tribunal in his ability to move the market forward.
Idoko-Akor lauded the commission for all it has been doing to support the tribunal in the discharge of its duties.
He called for more support to avoid hitches in the performance of the tribunal’s assignments.
“IST is serving the market, it is very important to the market, and that is why we commend SEC for its support to the IST.
“IST needs to be strengthened to be able to carry out its functions effectively.
“As the market is expanding, we also need funds to expand our operations to be able to serve better” he said.
Akor, while commending the SEC on the various initiatives it has rolled out, also called for increased enlightenment and sensitisation of the investing public, especially as it relates to seeking redress on issues relating to the capital market.