Thursday, June 13, 2024
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BUSINESS: SEC ON ANTI- MONEY LAUNDERING REGULATIONS.

Securities and Exchange Commission (SEC) says it has concluded plans to enhance Capital Market Operators’ understanding of the Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) regulations and the role they need to play in efforts being made to exit the FATF grey list.

The SEC disclosed this in a press statement on Monday, noting that the third- quarter meeting deliberations will focus on the trend of de-listing, identifying key challenges in the current listing processes.

It added that the meeting will also consider to collaboratively working towards implementing procedural changes that enhance efficiency and reduce costs for companies seeking to list, enhancing capital market operators understanding of the Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) regulations.

According to the SEC,the third quarter Capital Market Committee (CMC) 2023 meeting is scheduled to hold this Thursday in Lagos, comprising the SEC, representatives of the Capital Market Operators, Trade groups and Other Stakeholders.

The CMC is an Industry-wide forum where stakeholders come together to engage in insightful discussions concerning the critical factors that impact the growth and organised functioning of the Capital Market, address the foremost concerns influencing the Capital Market, and work together to shape its future.

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