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In a move at enhancing ethical standards and professionalism within the Nigerian capital market, NGX Regulation Limited (NGX RegCo) has unveiled the “Code of Conduct for Approved Persons of Trading License Holders.”
The code, approved by the Securities and Exchange Commission (SEC) is set to take effect on October 3, 2023.
Chief Executive Officer, NGX RegCo, Tinuade Awe, emphasised that the Approved Persons Code of Conduct is a pivotal step towards reinforcing a market that hinges on trust. She urged Trading License Holders’ Approved Persons to wholeheartedly embrace this Code, demonstrating their commitment to the highest professional standards. “These principles are fundamental in creating a market founded on transparency and accountability, which, in turn, will drive market depth, expansion, and economic progress,” she explained.
Head, Broker Dealer Regulation at NGX RegCo, Olufemi Shobanjo, said this development underscores ongoing efforts to improve the regulatory framework of the Nigerian capital market. “We strongly encourage all Approved Persons of Trading Licence Holders to familiarise themselves with the Code and ensure its implementation and compliance within their organisations.”
