The Securities and Exchange Commission (SEC) has issued an update on registration by all registered capital market operators, stating that CMOs yet to renew their registration at the expiration of late filing on May 31, 2021, shall not be eligible to operate in the capital market.
This was stated by SEC in a circular dated May 10, 2021 and signed by the management of the commission.
According to SEC, in line with the requirements for renewal of registration, all CMOs were required to have completed the renewal process on or before April 30, 2021.
Consequently, the Commission stated that all CMOs were expected to note that late filing for renewal of registration shall only be entertained from May 1, 2021 to May 31, 2021, while the names of CMOs, which have renewed their registration shall be published on SEC website/ national daily newspapers and communicated to the relevant securities exchanges and trade associations for their notification.
Recall that SEC had, on March 23, 2021, issued a circular to the general public and CMOs in particular of the reintroduction of the periodic renewal of registration by capital market operators.