NSE To Introduce Whistle-blowing In 2013 To Protect Investors

nse_new_pix_0The Nigerian Stock Exchange (NSE) says it will introduce whistle-blowing in 2013 to ensure full compliance of operators with its rules and regulations.

Mrs Tinu Awe, the Head of Legal Division of NSE, disclosed this at a workshop for capital market correspondents on Tuesday in Lagos.

Awe said that the aim was to strengthen NSE regulatory framework to protect market integrity.

She reiterated NSE’s commitment to building a strong regulatory framework that would protect investors and restore their confidence in the nation’s bourse.

Awe said that the NSE recently introduced X-Compliance and Brokers Trak reports to ensure that quoted companies and stockbroking firms disclosed their transactions.

Ms Hauwa Dogonyaro, the Head of Listings Regulation Department of the NSE, said that the X-Compliance report was an initiative designed to maintain market integrity and to protect investors.

According to Dogonyaro, the X-compliance report is a snapshot of information to guide investment decision and provides information on the compliance status of listed companies.

She said that quoted companies that failed to comply with post-listing rules would be sanctioned to ensure good corporate governance.

On the Brokers Trak Report, Mr Olufemi Shobanjo, the Head Broker/Dealer Regulation, said that it was introduced to ensure full disclosure of activities of dealing firms.

Shobanjo said that the report would “provide investors with adequate data to make informed decisions of the firms they choose to do business with”. (NAN)

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Comments

  1. Prince Diepiriye Tubotamuno says:

    Mrs. Tinu Awe is an interesting young woman that motivated our spirit of choice yesterday @ the university of Lagos Faculty of Law. Her speech was huge & encouraging. Please send me your contact. I’m one of them in Dr. Sope’s class you spoke to. Thanks ma.

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