Securities Investment Services
The department regulates securities offered to the public and all forms of business combinations. It monitors the activities of all publicly quoted companies and notes transactions involving private companies with foreign interest.
The Department consists of four Divisions:
- Business Combinations
- Acquisitions & Takeovers
The division is sub-divided into two units:
- Vets offer documents to ensure full disclosure of all material facts.
- Registers securities of public companies issued by way of public offers, rights issues, private placements, bonus issues and existing securities.
- Processes applications for conversion of preference shares or stocks to equity.
- Attends Completion Board Meetings to ensure proper conduct at the meeting.
- Makes input on rules regarding regulation of securities.
- Reviews proposed basis of allotment for public offers, rights issues and private placements to ensure compliance with regulatory requirements.
- Maintains registers of foreign portfolio and foreign direct investments.
- Computes penalties for late submission of proposed basis of allotment.
- Reviews post allotment compliance reports to ensure compliance with the Commission's Rules and Regulations
- Recommends amendments to rules regarding allotment of shares.
- Reviews and vets offer documents
- Gives legal opinion on documents submitted by Issuers and/or Issuing Houses.
- Reviews fresh merger applications
- Promotes best practices in Mergers and Acquisitions in Nigeria.
- Makes inputs into rules relating to Mergers & Acquisitions
Acquisitions and Takeovers
- Reviews and processes applications for acquisitions, takeovers, and management buy out.
- Maintains records of share-holders with interest of 5% and above in any quoted company
- Monitors and investigates market activities that are likely to give rise to mergers, acquisitions or takeovers.
- Investigates cases of business combinations which have not been cleared by the Commission
- Conducts post approval inspections to ensure compliance with the terms of approval