SEC urges stockbrokers to uphold ethics for market integrity

By Chukwuma Umeorah

The Securities and Exchange Commission (SEC) has called on stockbrokers to uphold the highest standards of professionalism and ethical conduct in their dealings to ensure a fair, transparent, and trustworthy capital market.

Director General of the Commission, Emomotimi Agama, made the call over the weekend during the 29th annual conference of the Chartered Institute of Stockbrokers (CIS) held in Abuja. Agama emphasized that investors must have full confidence that intermediaries who manage their wealth are guided by honesty, integrity, and professional competence.

He described the theme of this year’s conference, “Capital Markets in a Digital, Ethical, Sustainable Era: Pathways for Economic Transformation,” as timely, noting that it captured the global transition where technology drives innovation, ethics anchor trust, and sustainability shapes the future of finance.

“These three dimensions: digitalization, ethics, and sustainability, are not separate pillars; they form the foundation of a modern, inclusive, and resilient capital market,” he stated.

According to him, technological innovation is transforming capital markets globally, from digital trading platforms and blockchain to data analytics and artificial intelligence, which are redefining how capital is raised, invested, and supervised.

Agama noted that the SEC has embraced these changes as opportunities to enhance efficiency, transparency, and investor protection. He highlighted ongoing initiatives by the Commission, including improved market surveillance systems, automated regulatory processes, and risk-based supervision frameworks designed to align the Nigerian capital market with the dynamics of a digital economy. “We are also actively engaging with stakeholders, including the Chartered Institute of Stockbrokers, to deepen digital literacy and capacity-building across the market. As technology evolves, so must our skills, our ethics, and our shared commitment to fairness and professionalism,” he said.

He stressed that no amount of innovation can substitute the foundational importance of ethics, asserting that “a truly transformative capital market must be built on integrity, transparency, and accountability.”

Commending the CIS for its role in setting professional standards and upholding ethical codes within the stockbroking profession, Agama reaffirmed the Commission’s stance that professionalism and ethical conduct remain non-negotiable. “Together, the SEC and the CIS must continue to strengthen ethics education, continuous professional development, and disciplinary frameworks to ensure that the market remains a place of trust,” he added.