“As you are aware, the SEC has committed resources to put in place several measures to address the issues of unclaimed dividends."The Securities and Exchange Commission has warned quoted companies and capital market registrars to desist from selective payments and distribution of dividends., said this on Saturday at the Institute of Capital Market Registrars 10th Annual Conference, Investiture of fellows, Induction of Associates and Annual General Meeting in Lagos.
“We, therefore, urge the ICMR to encourage its members to uphold the Code of Ethics of the profession and as contained in the Rules and regulations of the commission,” he said.“Regrettably, the number of mandated accounts has been on the decline for some time and the rate at which investors are coming forward to conduct their KYC has not been encouraging.
Speaking on the theme: “Reinventing the Nigerian capital market for growth: The digital technology approach,” he said the commission would continue to engage with all stakeholders on new developments in the digital technology space. He said the commission had recognised that if the application of digital technology to financial market practices was not properly regulated, it could lead to outcomes that would threaten investor confidence.
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