Pursuant to Section 313(6) of the Investments and Securities Act 2007, the following amendments are made by the Commission.
Amendment to Schedule I of the Rules and Regulation
The new minimum capital requirements for Capital Market Operators are as follows:
S/N | OPERATORS | MINIMUM CAPITAL REQUIREMENTS |
EXISTING NEW | ||
1 | Broker/Dealer | N70 million N300million |
2 | Broker | N40 million N200 million |
3 | Dealer | N30 million N100 million |
4 | Issuing House | N150 million N200 million |
5 | Underwriter | N100 million N200 million |
6 | Registrar | N50 million N150 million |
7 | Trustees | N40 million N300 million |
8 | Rating Agency | N20 million N150 million |
9 | Corporate Investment Adviser | N5 million N5 million |
10 | Individual Investment Adviser | N500,000 N2 million |
11 | Fund/Portfolio Manager | N20 million N150 million |