Suggestions




SEC Begins Charging Regulatory Fee On Fixed Income Transactions

December 17, 2021
by
Nigerian Securities Exchange Commission

Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC), will commence charging regulatory fee on fixed income secondary market transactions with effect from January 1, 2022.

In a circular released yesterday, SEC stated that the commencement of regulatory fee on bonds and other fixed-income transactions on the secondary market, is pursuant to Section 13(u) of the Investments and Securities Act (ISA), 2007 and Schedule 1, Part D of the SEC Rules (Registration Fees, Minimum Capital Requirements, Securities and others).

Join our WhatsApp Channel

These rules empower the SEC to levy, among others, fees on transactions relating to investments and securities business in Nigeria.

The circular stated that the regulatory fee structure on secondary market transactions on bonds will take effect from January 1, 2022 and secondary market transactions on bonds shall include bond transactions executed on a securities exchange, reported by voice or by any other means to an exchange as having being transacted thereon or of which the information of the transaction details are featured on the exchange’s platform for purposes including but not limited to onward transmission to a depository for settlement, price discovery and corporate disclosure.

According to the circular, SEC will charge 0.025 per cent of the total value of all secondary market transactions on bonds, while the securities exchange on which the transaction occurs will charge an amount not exceeding 0.025 per cent of the total value of secondary market transactions on bonds while bond transactions by dealing members will attract a single regulatory fee of 0.0001 per cent of the total value of the secondary market transactions on bonds, and are exempt from the 0.025 per cent fee charge earlier stated.

The Commission stated that the circular supersedes previous directives given by it on the subject.

+ posts

PBA Reporter

Nigerian Government
Previous Story

See List Of Properties FG Plans To ‘Recover’ In 11 Southern States

Next Story

Oil Price Drops To $73 On Omicron Concerns

Featured Stories

Latest from News

APC Conflict Resolution Committee Holds First Meeting in Abuja

The All Progressives Congress (APC) Strategy, Conflict Resolution and Mobilisation Committee on Monday night held its inaugural meeting in Abuja, marking the commencement of efforts by the ruling party to address internal disputes and strengthen nationwide mobilisation ahead of future elections. The

Uganda Partially Restores Internet After Museveni Wins Seventh Term

Ugandan authorities have partially restored internet services following President Yoweri Museveni’s victory in Thursday’s presidential election, while keeping social media platforms offline. Users reported reconnecting to the internet around 11:00 p.m. local time on Saturday, with some internet service providers confirming that

Kogi State Deploys PH20 Surveillance Drones for Security Operations

The Kogi State Government has unveiled two high-capacity PH20 surveillance drones as part of its efforts to strengthen security and intelligence operations across the state. The drones were presented on Monday at the 12 Brigade Headquarters, Chari‑Maigumeri Barracks in Lokoja, the state
Nigerian Government
Previous Story

See List Of Properties FG Plans To ‘Recover’ In 11 Southern States

Next Story

Oil Price Drops To $73 On Omicron Concerns

Don't Miss

UNN

Sustaining The Tempo Of Homegrown Solutions In UNN

By Emmanuel Ejiofor As businesses thrive on innovations which drive

Nexusguard Research Shows Total Number of DDoS Attacks Increased during First Half of 2022 While Maximum Attack Size Decreased Compared to Second Half of 2021

Nexusguard DDoS Statistical Report Reveals Key Attack Observations and Analysis