The Nigerian Stock Exchange has today charged all brokers and dealers to comply with the ambits of Rule 56 (1&2) (c) of the Rules and Regulations of the Securities and Exchange Commission.
The rule no 56 mandates all registered brokers/dealers to disclose to the Commission any dealings starting from 500,000 units in a Security which is carried out in a single or multiple deal.
This however applies to single/multiple deals effected by brokers or dealers on the same day on behalf of his clients within the space of 24 hours after the execution of the deal.
The Nigerian Stock Exchange has in this regard charged Capital Market Operators registered as Brokers, Dealers or Broker Dealers immediately comply with the rule and forward the required returns to the Securities Exchange Commission.
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