RULES OF THE INVESTMENT AND SECURITIES TRIBUNAL

PDF COMPENDIUMS OF THE RULES OF COURTS,LAWS OF NIGERIA AND OF SELECT STATES ARE AVAILABLE. EMAIL: lawnigeria@gmail.com or info@gmail.com or Text/WhatsApp +23407067102097 TO ORDER. 

LIST OF LAWS, RULES AND REGULATIONS OF THE INVESTMENT AND SECURITIES TRIBUNAL AND THE SECURITY AND EXCHANGE COMMISSION

1.     Compendium of SEC/IST Laws, Rules and Regulations listed below – N8,000 [DOWNLOAD PDF READ ONLINE]

2.     Investment and Securities Act – N2,000 [DOWNLOAD PDF READ ONLINE]

3.     Investment and Securities Tribunal, IST, Rules 2014 – N2,000 [DOWNLOAD PDF READ ONLINE]

4.    Investment and Securities Tribunal, IST, Rules Relating to the Complaints Management Framework of the Nigerian Capital Market [DOWNLOAD PDF (N2000)  READ ONLINE]

5.     Securities and Exchange Commission Consolidated Rules and Regulations, 2013 – N2,000 [DOWNLOAD PDF  READ ONLINE]

6.     Securities and Exchange Commission Administrative Proceedings Committee Rules of Procedure  [N1000] [DOWNLOAD PDF  READ ONLINE]

7.     Code of Corporate Governance for Public Companies, 4 April 2011 – [N2,000] [DOWNLOAD PDF –  READ ONLINE]

8.       2018 Sundry Amendments to the Rules and Regulations of the Commission – N1000 [DOWNLOAD PDF    READ ONLINE]

(It covers the following:

Major Amendment Proposals

a.     Proposed Amendment to Part C15 – Securities Clearing and Settlement Company, SCSC

Sundry Amendment Proposals

b.     Proposed Amendment to the Rule 40(5) on type of Public Company that may file earnings forecasts

c.      Proposed amendments to Rule 41(4) – Rules Relating to Publication of Interim Financial Statement (Re-Exposure)

d.     Proposed amendment to Schedule II of the Commission’s Rules and Regulations – Insertion of penalty for diversion/misapplication of Issue Proceeds (Re-Exposure))[DOWNLOAD PDF READ ONLINE]

9.     2017 Compendium of New Rules and Sundry Amendments (Actual and Proposed) to the Rules and Regulations of Securities and Exchange Commission, 2007 (Batch 1 and 2) – N2,000  [DOWNLOAD PDF READ ONLINE]

(It covers the following:

NEW RULES

1.     Rule on the Regulation of Revenue Bonds

2.     Asset Manager Code of Professional Conduct

3.     Fixed Income Primary Issuance Fees

4.     Equity Primary Issuance Fees

5.     Rules on Return of Unclaimed Dividends to Paying Companies.

6.     Inclusion of Independent National Electoral Commission (INEC) voter’s registration card as a valid means of identification of individual clients in the Capital Market.

7.     Three-tiered Know-Your-Customer (KYC) Framework for Capital Market Operators.

8.     Fund/Portfolio Management Operations Rules

9.     Rules on Return of Unclaimed Dividends to Paying Companies.

10.    Inclusion of Independent National Electoral Commission (INEC) voter’s registration card as a valid means of identification of individual clients in the Capital Market.

11.    Three-tiered Know-Your-Customer (KYC) Framework for Capital Market Operators.

12.    Fund/Portfolio Management Operations Rules

13.    Amendment to the National Investor Protection Fund (NIPF) Rules

14.    Amendment to Rule 508- Rules on Real Estate Investment Schemes

15.    Amendment to Rules on Infrastructure Funds

SUNDRY AMENDMENTS TO SEC/IST RULES

1.     Dividend/Return Money Warrants

2.     Code of Conduct for Capital Market Operators and their Employees

3.     Amendment to Rule 234 (Inter-dealer Broker)

4.     Amendments to the Rules on Mergers and Takeover

5.     Rule 56 (1) – Functions of Brokers

6.     Rule 67 – SUB-BROKER; Registration Requirements

7.     Rule 67 (2) Individual Sub-Broker (Deleted)

8.     Rule 84 – Functions of Issuing House

9.     Rule 88 (1) Registration Requirements

10.    Rule 89 (1) – Underwriters: Eligibility

11.    Rule 89 (2)

12.    Rule 92 – Functions of Fund/Portfolio Managers;

13.    Rule 178 (1) – Capital Market Experts Or Professionals;

14.    Registration Requirements

15.    Rule 179 – Reporting Accountants

16.    Rule 181 – Estate Surveyors

17.    Rule on Trading in Unlisted Securities – Inclusion of Debt Securities, Operators with Relevant Trade Groups/Associations, Operators with Relevant Trade Groups/Associations

21.    Rule 35(7) – Change of Status of registrant

22.    Rule 314 – Cost of Issue

23.    Rule 420 – Rule on Global Depository Receipts

24.    Rule 456(1)(F)- Obligations of The Custodian of a Collective Investment Scheme

26.    Schedule I of The Commission’s Rules and Regulations – Registration Fees, Minimum Capital Requirements, Securities and Others

29.    Schedule Vi- Basis of Computation of Bid and Offer Prices for Collective Investment Schemes

30.    Rule 19- Sponsored Individuals/Compliance Officers

31.    Rule 22 (4)- Minimum Paid-up Capital-Definition of Core/Non-Core Operators

32.    Rule 22 (5)- Minimum Paid-up Capital

33.    Rule 42 (1) & (2)- Half-yearly Returns

34.    Rule 182 (5)- Registration requirements

35.    Rule 279 (2) (d) (viii)- Registrable Securities

36.    Rule 279 (2) (p)- Registrable Securities

37.    Rule 279 (2) (r)-Registrable Securities

38.    Rule 279 (3) (3) (i)- Registrable Securities

39.    Rule 279 (8)- Registrable Securities

40.    Rule 288 (3)- Contents of a Prospectus

41.    Rule 300- Pre-offer waiting period (Fixed Price Offers)

44.    Rule 305- Proceeds of Issue

45.    Rule 312 (6) (i)- Undersubscription

46.    Rule 314- Cost of Issue

47.    Rule 315 (4)- Underwriting of Public Issues

48.    Rule 315 (4) (d)- Underwriting of Public Issues

49.    Rule 315 (7)- Underwriting of Public Issues

50.    Rule 316 (1)- Amount to be Underwritten

51.    Rule 323 (22)- Conditions for Approval of Offer

52.    Rule 340 (2) (e)- Conditions for Approval of Offer

53.    Rule 420 (1)- Depository Receipts by Nigerian Entities

54.    Rule 421- Definition of Acquisition (Mergers)

55.    Rule 566- Conditions to be satisfied by the Issuer

56.    Rule 567 (f)- Registration Requirement for Corporate Bonds

57.    Schedule 1 Part D (3)- SEC Fees on Market Deals

58.    Creation of New Form SEC 2D for Fit and Proper Persons (Sponsored Individuals, Directors/Partners) for Registration in the Capital Market.

DELETIONS

1.     Rule 312 (4)- Undersubscription

2.     Rule 340 (2) (h) – Conditions for Approval of Offer)

SUNDRY PROPOSED AMENDMENTS TO SEC/IST RULES AS AT 2017

1.     Proposed amendment to Part C15 – Securities Clearing and Settlement Company

2.     Proposed Amendment to the Rule 40(5) on type of Public Company that may file earnings forecast

3.     Proposed amendment to Rule 41(4)- Rules Relating to Publication of Interim Financial Statement (Re-Exposure) [DOWNLOAD PDF  READ ONLINE]

10.     Proposed amendment to Schedule II of the Commission’s Rules and Regulations- Insertion of penalty for diversion/misapplication of Issue Proceeds (Re-Exposure)) [DOWNLOAD PDF (N1,000)  READ ONLINE]

11.     2015 SEC Regulations for Demutualisation of Securities – N1,000 [DOWNLOAD PDF  READ ONLINE]

12.    SEC Rules on Securitisation – N1,000 [DOWNLOAD PDF  READ ONLINE]

13.    SEC Rules on Trading in Unlisted Securities – N500 [DOWNLOAD PDF  READ ONLINE]

14.   SEC Rules on Infrastructure Funds, Foreign Collective Investment Schemes and Sundry Amendments, 12 May 2014 – [DOWNLOAD (N2,000) PDF  READ ONLINE]

BOOKS

12.     Investments & Securities Act, 2007, Investments & Securities Tribunal (Procedures) Rules 2014 and Exchange Commission Administrative Proceedings Committee (with NOTES and CASES)

LAWS OF THE FEDERAL REPUBLIC OF NIGERIA

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