Nigeria: NSE Awaits SEC's Approval On Rules for Operating Investor Protection Fund

The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, has said Investor Protection Fund (IPF) would commence as soon the Securities and Exchange Commission (SEC) approves the rules . IPF was established to give investors a statutorily backed avenue for reducing the losses they suffer as a result of bankruptcy. It will also cover losses arising from insolvency, negligence or wrongdoing by dealing members. Onyema, who said this at the NSE's 2013 market review and outlook for 2014, added that the IPF would strengthen the confidence of domestic investors.He said that retail investors' participation in the market as at Nov. 2013 stood at 49.06 per cent. Onyema also said that the operations of the exchange in 2014 would focus on sustaining the market growth. He said that the NSE would also sustain the attraction of foreign investors in the Nigerian capital market. Onyema said that the NSE would increase its investor education with other financial market regulat
http://ezinnetech.blogspot.com/2014/01/nigeria-nse-awaits-secs-approval-on_17.html