COURT AFFIRMS SEC’S REGULATORY OVERSIGHT ON PUBLIC FIRMS

Written by on March 14, 2019

The Court of Appeal has reiterated the Securities and Exchange Commission’s powers to intervene in the management and control of any public company which is considered to be in crises.

The SEC is statutorily mandated as the apex regulator of the Capital Market to ensure the protection of investors and maintain a fair, efficient and transparent market.

It will be recalled that in 2008, the SEC conducted an investigation a public listed company which revealed several infractions of the Investments and Securities Act, 2007 such as inadequate internal control systems and a breakdown of corporate governance in the company.


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