The Securities and Exchange Commission ( SEC) yesterday said it will commence 0.025 per cent regulatory fee on fixed income (Bonds) secondary market transactions effective from January 1, 2022.
The Commission in circular said, “This circular is made pursuant to Section 13(u) of the Investments and Securities Act (ISA), 2007 and Schedule 1, Part D of the SEC Rules (Registration Fees, Minimum Capital Requirements, Securities and others) which empower the Securities and Exchange Commission (SEC) to levy, among others, fees on transactions relating to investments and securities business in Nigeria”.
The Circular stated that Capital Market Operators (CMOs) and stakeholders generally are hereby notified that: “a regulatory fee structure on secondary market transactions on Bonds will take effect from January 1, 2022 and Secondary market transactions on Bonds shall include bond transactions executed on a Securities Exchange (Exchange), reported by voice or by any other means to an Exchange as having being transacted thereon or of which the information of the transaction details are featured on the Exchange’s platform for purposes including but not limited to onward transmission to a Depository for settlement, price discovery and corporate disclosure.”
