ADVANTAGES TO THE CAPITAL MARKET

 Registrar outfits will be manned by true professionals who are adequately trained, experienced and appropriately certified.
 Registrars will be adequately qualified to move in tandem with developments in the Nigerian Capital Market.
 A systematic and regular production of qualified professional Registrars will enhance the quality of service delivery in the industry.
 The regulatory authorities can now employ professional Registrars to properly enhance their understanding and dealings with Registrar outfits.
 The training, retraining and certification of those practicing Share Registration will drastically reduce incidences of fraud in the Capital Market.
 It will also enhance investors’ confidence in the market.

RELATIONSHIP WITH REGULATORY AUTHORITIES

1) We attend the Capital Market Committee meetings and inform our members of the main points discussed
2) We represent our members at the sitting of the Administrative Proceeding Committee whenever infractions are committed in the market.
3) We serve as the main link between our members and the regulatory authorities including the National Assembly.
4) We do our best to ensure members comply with Securities & Exchange Commission (SEC) rules and regulations.
5) We serve on several other committees in representation of our members.

PROFESSIONAL CODE OF CONDUCT

 

INTEGRITY                      

A member shall at all times conduce himself as a person of integrity and probity.  He shall observe the principles of the Institute so that the Profession shall be enhanced.

 

  1. HONESTY

A member shall at all times act honestly and in such manner that customers are not caused to be misled.  He shall not in the course of discharging his professional duties knowingly or recklessly disseminate false or misleading information to third parties.

 

  1. PROFESSIONAL COMPETENCE

It is expected that, in his Practice as a professional Registrar, a member shall seek at all times to ensure that he  attains the appropriate levels of qualification that will enhance his competence as a Registrar.

 

  1. CONFLICT OF INTEREST

(a)    A member shall at the earliest opportunity bring to the notice of his employers or his customers in all cases whereby conflict of interest arises in the discharge of his duties to such employers or customers as the case may be.

 

  • Where the terms of service agreement of a member with his employers are in conflict with this code of conduct the provision of the Institute’s Professional Code of Conduct shall prevail.

 

  1. CONFIDENTIALITY OF INFORMATION

(a)    Unless required by law, a member shall not disclose or permit disclosure to any other person, firm or company any confidential information concerning his employers or his customers’ business without the consent of such employers or customers.

 

  • Unless required by law, a member shall not use, to the pursuit of his personal interest, any confidential information concerning his employers or his customers.

 

  1. DESCRIPTION OF DESIGNATORY LETTERS (FCMR, ACMR)

A member of the Institute may use the designatory letter, FCMR (for Fellow of the Institute of Capital Market Registrars), ACMR

 

(for Associate of the Institute of Capital Market Registrars) as appropriate.  A member who holds a national or service honour (such as O.O.N., C.F.R, M.O.N etc or relevant academic degree (e.g. B.Sc, M.A, Ph.D, Dip. Etc) is entitled to use the appropriate designatory letters after his name.

 

  1. LITIGATION AGAINST MEMBERS

No member of the Institute shall be allowed to seek redress for any act of wrong doing, or matters relating to the Institute’s affairs through legal action without the permission of the Governing Council.

 

Any member who institutes a legal action against another member on matter(s) relating to the Institute without the expressed permission in writing of the President/Chairman of Council shall be liable to the following penalties:

 

  1. Withdrawal of Membership
  2. Reporting to the employer for bringing the name of the Institute into disrepute.