Financial Sector Assessment Program : Nigeria - IOSCO Objectives and Principles of Securities Regulation

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collection.link.72
https://openknowledge.worldbank.org/handle/10986/2180
collection.name.72
Financial Sector Assessment Program
dc.contributor.author
International Monetary Fund
dc.contributor.author
World Bank
dc.date.accessioned
2013-10-01T16:57:21Z
dc.date.available
2013-10-01T16:57:21Z
dc.date.issued
2013-05
dc.description.abstract
The regulatory framework for securities markets in Nigeria has improved markedly since the 2002 Financial Sector Assessment Program (FSAP), and particularly in the last five years. Since the adoption of the Investments and Securities Act 2007 (ISA) and the first set of rules and regulations of the Nigerian Securities and Exchange Commission (SEC), the regulatory framework has been further strengthened and expanded. The SEC cooperates both at the domestic and international level with its counterparts and other authorities. The SEC focuses on regulating the products offered to investors through extensive scrutiny of prospectuses for all securities, including collective investment schemes. An assessment of the level of implementation of the International Organization of Securities Commissions (IOSCO) principles in Nigeria was conducted from September 4 to 19, 2012 as part of the International Monetary Fund (IMF)-World Bank FSAP. The assessment was made based on the IOSCO objectives and principles of securities regulation approved in 2010 and the methodology updated in 2011. The IOSCO methodology requires that assessors not only look at the legal and regulatory framework in place, but also at how it has been implemented in practice. The Investments and Securities Tribunal (IST) provides a process for the resolution of securities markets related cases that do not have to be resolved in the regular court system. The purpose of the assessment is primarily to ascertain whether the legal and regulatory securities markets requirements of the country and the operations of the securities regulatory authorities in implementing and enforcing these requirements in practice meet the standards set out in the IOSCO principles. The assessment is to be a means of identifying potential gaps, inconsistencies, weaknesses and areas where further powers and/or better implementation of the existing framework may be necessary and used as a basis for establishing priorities for improvements to the current regulatory scheme. The assessment of the country's observance of each individual principle is made by assigning to it one of the following assessment categories: fully implemented, broadly implemented, partly implemented, not implemented and not applicable. The IOSCO assessment methodology provides a set of assessment criteria to be met in respect of each Principle to achieve the designated benchmarks.
en
dc.identifier
http://documents.worldbank.org/curated/en/2013/05/18170453/nigeria-iosco-objectives-principles-securities-regulation-detailed-assessment-implementation
dc.identifier.uri
http://hdl.handle.net/10986/15967
dc.language
English
dc.language.iso
en_US
dc.publisher
World Bank, Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo/
dc.subject
ACCOUNTABILITY
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ACCOUNTING
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ACCOUNTING STANDARDS
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ADMINISTRATIVE COSTS
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ADVISORY SERVICES
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ARBITRATION
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ASSET MANAGEMENT
dc.subject
ASSET VALUE
dc.subject
AUDIT STANDARDS
dc.subject
AUDITING
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AUDITORS
dc.subject
AUDITS
dc.subject
BANK SETTLEMENT
dc.subject
BANKRUPTCY
dc.subject
BENEFICIAL INTEREST
dc.subject
BID
dc.subject
BOND
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BOND FUNDS
dc.subject
BROKER
dc.subject
BROKER DEALER
dc.subject
BROKER DEALERS
dc.subject
BROKER-DEALER
dc.subject
BROKER-DEALERS
dc.subject
BROKERS
dc.subject
BUSINESS ACTIVITY
dc.subject
CAPITAL MARKET
dc.subject
CAPITAL MARKET INFRASTRUCTURE
dc.subject
CAPITAL MARKETS
dc.subject
CAPITAL REQUIREMENTS
dc.subject
CASH SETTLEMENT
dc.subject
CENTRAL BANK
dc.subject
CLEARING HOUSE
dc.subject
CLIENT ASSETS
dc.subject
CODE OF CONDUCT
dc.subject
COLLECTIVE INVESTMENT
dc.subject
COMMERCIAL BANKS
dc.subject
COMMODITIES
dc.subject
COMMODITY
dc.subject
COMMODITY EXCHANGES
dc.subject
COMPETITIVENESS
dc.subject
CONFIDENTIALITY
dc.subject
CONFLICT OF INTEREST
dc.subject
CONFLICTS OF INTEREST
dc.subject
CORPORATE GOVERNANCE
dc.subject
CORRUPTION
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CREDIT RATING
dc.subject
CREDIT RATING AGENCIES
dc.subject
CREDIT RATINGS
dc.subject
CREDITORS
dc.subject
CROSS-BORDER OFFERINGS
dc.subject
DEBENTURES
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DEBT
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DEBT INSTRUMENTS
dc.subject
DEBT MANAGEMENT
dc.subject
DEBT SECURITIES
dc.subject
DEFAULT RISK
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DEFICITS
dc.subject
DEPOSITORY
dc.subject
DERIVATIVES
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DERIVATIVES EXCHANGES
dc.subject
DISCLOSURE REQUIREMENTS
dc.subject
DISCLOSURE STANDARDS
dc.subject
ECONOMIC POLICIES
dc.subject
EMPLOYER
dc.subject
ENFORCEMENT POWERS
dc.subject
EQUITABLE ACCESS
dc.subject
EQUITIES
dc.subject
EQUITY FUNDS
dc.subject
ETHICAL FUNDS
dc.subject
EXCHANGE COMMISSION
dc.subject
EXCHANGE MARKET
dc.subject
EXPENDITURE
dc.subject
EXPOSURES
dc.subject
FAIR
dc.subject
FINANCIAL CAPACITY
dc.subject
FINANCIAL CRISIS
dc.subject
FINANCIAL HEALTH
dc.subject
FINANCIAL INSTITUTIONS
dc.subject
FINANCIAL MISMANAGEMENT
dc.subject
FINANCIAL REGULATORS
dc.subject
FINANCIAL SECTOR
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FINANCIAL SECTOR ASSESSMENT
dc.subject
FINANCIAL SERVICES
dc.subject
FINANCIAL SERVICES INDUSTRY
dc.subject
FINANCIAL STATEMENT
dc.subject
FINANCIAL STATEMENTS
dc.subject
FINANCIAL SYSTEM
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FRAMEWORK FOR SECURITIES
dc.subject
FUND MANAGER
dc.subject
FUND MANAGERS
dc.subject
FUTURES
dc.subject
GOOD FAITH
dc.subject
GOVERNANCE PRACTICES
dc.subject
GUARANTEE FUND
dc.subject
HEDGE FUND
dc.subject
HEDGE FUNDS
dc.subject
HOLDING
dc.subject
HOLDING COMPANIES
dc.subject
HOLDING COMPANY
dc.subject
HOLDINGS
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HUMAN RESOURCES
dc.subject
INCOME
dc.subject
INFORMATION SERVICE
dc.subject
INFORMATION SHARING
dc.subject
INFORMATION TECHNOLOGY
dc.subject
INSIDER DEALING
dc.subject
INSIDER TRADING
dc.subject
INSOLVENCY PROCEEDINGS
dc.subject
INSURANCE
dc.subject
INSURANCE COMPANIES
dc.subject
INTERNAL CONTROL
dc.subject
INTERNAL CONTROLS
dc.subject
INTERNATIONAL BANK
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INTERNATIONAL INVESTORS
dc.subject
INTERNATIONAL STANDARDS
dc.subject
INVESTOR PROTECTION
dc.subject
ISSUANCE
dc.subject
JUDICIAL COURT
dc.subject
JUDICIAL PROCESS
dc.subject
JUDICIAL SYSTEM
dc.subject
JURISDICTION
dc.subject
JURISDICTIONS
dc.subject
LEGAL PROTECTION
dc.subject
LEGAL PROVISIONS
dc.subject
LEGAL REQUIREMENTS
dc.subject
LEGAL SYSTEM
dc.subject
LEGISLATION
dc.subject
MARKET CAPITALIZATION
dc.subject
MARKET DEVELOPMENT
dc.subject
MARKET DISRUPTION
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MARKET INFRASTRUCTURE
dc.subject
MARKET INTERMEDIARIES
dc.subject
MARKET INTERMEDIARY
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MARKET MAKERS
dc.subject
MARKET MANIPULATION
dc.subject
MARKET PARTICIPANTS
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MARKET PRICE
dc.subject
MARKET REGULATION
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MARKET SHARE
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MARKET STRUCTURE
dc.subject
MARKET SURVEILLANCE
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MARKET TRADE
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MARKETING
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MINIMUM CAPITAL REQUIREMENTS
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MISMANAGEMENT
dc.subject
MONETARY FUND
dc.subject
MONEY LAUNDERING
dc.subject
MONEY MARKET
dc.subject
NEW COMPANIES
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OUTSOURCING
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PAYMENT OBLIGATIONS
dc.subject
PENALTIES
dc.subject
PENSION
dc.subject
PENSION FUNDS
dc.subject
PORTFOLIO
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PORTFOLIO MANAGERS
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POTENTIAL INVESTOR
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PREJUDICE
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PRIMARY DEALERS
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PROFESSIONAL QUALIFICATION
dc.subject
PROTECTION OF INVESTORS
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PUBLIC COMPANIES
dc.subject
REAL ESTATE
dc.subject
RECEIPT
dc.subject
REGISTERED SECURITIES
dc.subject
REGISTRATION OF SECURITIES
dc.subject
REGISTRATION PROCESS
dc.subject
REGISTRATION REQUIREMENT
dc.subject
REGULATOR
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REGULATORY AUTHORITIES
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REGULATORY AUTHORITY
dc.subject
REGULATORY BODY
dc.subject
REGULATORY CAPACITY
dc.subject
REGULATORY FRAMEWORK
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REGULATORY REQUIREMENTS
dc.subject
REGULATORY SYSTEM
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REGULATORY SYSTEMS
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RESERVES
dc.subject
RETURNS
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RISK MANAGEMENT
dc.subject
SAVINGS
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SECONDARY MARKETS
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SECURITIES
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SECURITIES DEALERS
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SECURITIES EXCHANGE
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SECURITIES EXCHANGES
dc.subject
SECURITIES LAW
dc.subject
SECURITIES MARKET
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SECURITIES MARKETS
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SECURITIES REGULATION
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SECURITIES REGULATORS
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SECURITIES REGULATORY AUTHORITIES
dc.subject
SECURITIES TRANSACTIONS
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SELF-REGULATION
dc.subject
SETTLEMENT
dc.subject
SETTLEMENT OBLIGATIONS
dc.subject
SETTLEMENT SYSTEM
dc.subject
SETTLEMENT SYSTEMS
dc.subject
SHARE PRICE
dc.subject
SHAREHOLDERS
dc.subject
SPREAD
dc.subject
STOCK EXCHANGE
dc.subject
SUPERVISORY AUTHORITIES
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SYSTEMIC RISK
dc.subject
SYSTEMIC RISKS
dc.subject
TECHNICAL ASSISTANCE
dc.subject
TRADE ASSOCIATION
dc.subject
TRADE ASSOCIATIONS
dc.subject
TRADING
dc.subject
TRADING PLATFORMS
dc.subject
TRADING SYSTEMS
dc.subject
TRANSPARENCY
dc.subject
TRANSPARENT MARKETS
dc.subject
TREASURY
dc.subject
TRUST DEED
dc.subject
TRUSTEE
dc.subject
TRUSTEES
dc.subject
UNDERWRITERS
dc.subject
UNIVERSAL BANKING
dc.subject
VALUATION
dc.subject
VENTURE CAPITAL
dc.title
Financial Sector Assessment Program : Nigeria - IOSCO Objectives and Principles of Securities Regulation
en
okr.date.disclosure
2013-08-30
okr.doctype
Economic & Sector Work :: Financial Sector Assessment Program (FSAP)
okr.doctype
Economic & Sector Work
okr.docurl
http://documents.worldbank.org/curated/en/2013/05/18170453/nigeria-iosco-objectives-principles-securities-regulation-detailed-assessment-implementation
okr.globalpractice
Macroeconomics and Fiscal Management
okr.globalpractice
Finance and Markets
okr.globalpractice
Finance and Markets
okr.globalpractice
Trade and Competitiveness
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
000356161_20130830143253
okr.identifier.internaldocumentum
18170453
okr.identifier.report
80731
okr.language.supported
en
okr.pdfurl
http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/08/30/000356161_20130830143253/Rendered/PDF/807310ESW0Nige00Box379814B00Public0.pdf
en
okr.region.administrative
Africa
okr.region.country
Nigeria
okr.sector
Finance :: General finance sector
okr.theme
Financial and private sector development :: Regulation and competition policy
okr.theme
Financial and private sector development :: Standards and financial reporting
okr.theme
Financial and private sector development :: Other financial and private sector development
okr.theme
Trade and integration :: International financial architecture
okr.topic
Finance and Financial Sector Development :: Access to Finance
okr.topic
Macroeconomics and Economic Growth :: Markets and Market Access
okr.topic
Private Sector Development :: Emerging Markets
okr.topic
Finance and Financial Sector Development :: Debt Markets
okr.topic
Banks and Banking Reform
okr.unit
Financial Sector Assessment Prog (FFSFP)
okr.volume
1 of 1

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