SEC launches full e-registration for capital market operators

The Securities and Exchange Commission (SEC) has commenced the implementation of a fully electronic registration platform for capital market operators (CMOs), allowing designated regulatory services to be completed entirely online as part of efforts to modernise Nigeria’s capital market and improve regulatory efficiency.

The Commission said the new electronic registration (e-Registration) platform, deployed through its ePortal, enables CMOs to complete application submission, regulatory review, approvals and communication of decisions digitally, eliminating manual processing for services covered in the current phase.

According to the SEC, the initiative is expected to simplify regulatory interactions, reduce administrative bottlenecks, shorten processing timelines and provide applicants with real-time visibility into the status of their applications.

The Commission stated that the migration to a digital registration system would strengthen regulatory oversight through standardised workflows, electronic documentation, secure digital record management and enhanced audit trails.

“The new platform represents a major step towards creating a seamless digital regulatory ecosystem that enhances operational efficiency while strengthening regulatory effectiveness,” the Commission said.

The SEC explained that the e-Registration platform aligns with its strategy of leveraging technology to improve market efficiency, enhance the ease of doing business and deliver better regulatory services to stakeholders.

Beyond improving operational efficiency, the Commission said the platform would enhance the integrity of regulatory processes by reducing delays associated with paper-based documentation while improving the quality of regulatory data available for supervisory decision-making.

It added that the digital platform would also provide a stronger foundation for regulatory analytics and future innovations aimed at strengthening oversight of Nigeria’s capital market.

The implementation is being rolled out in phases to ensure a seamless transition for market participants while maintaining the stability and integrity of regulatory processes.

The Commission clarified that the current phase is limited to post-registration services for existing Capital Market Operators, noting that applications for the registration of new entrants into the Nigerian capital market are not yet included.

It said electronic processing for new registration applications would commence at a later date, with the timeline to be announced subsequently.

The SEC urged all Capital Market Operators to familiarise themselves with the new platform and comply with implementation timelines to ensure a smooth transition.

The initiative forms part of the Commission’s broader market modernisation agenda aimed at improving regulatory efficiency, strengthening market infrastructure, enhancing transparency and supporting the continued growth, resilience and global competitiveness of Nigeria’s capital market.