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NGX RegCo releases code of conduct for trading license holders



NGX Regulation Limited has announced the release of the Code of Conduct for Approved Persons of Trading License Holders of Nigerian Exchange Limited (NGX).

According to a statement made available by the NGX, approved by the Securities and Exchange Commission (SEC) on 16 August 2023, the Code will take effect on 3 October 2023.

The Exchange noted that its primary objective is to establish and uphold acceptable standards of behaviour, thereby fostering professionalism, integrity, and fairness in the interactions of Approved Persons with clients, employers, employees, regulators, and other relevant stakeholders.

According to the local Bourse, the commitment is poised to bolster investor confidence and pave the way for a sustainable and thriving market.

The Exchange said that the Code emphasizes high professional standards, reasonable skill, care, and prudence, as well as adherence to ethical and practical standards.

It added that it highlights the expected standards and values that Approved Persons must display at all times when conducting their businesses at all times.

What stakeholders are saying: Commenting on the development, Ms Tinuade Awe, Chief Executive Officer, NGX Regulation Limited noted that:

Mr Olufemi Shobanjo, Head, of Broker-Dealer Regulation, NGX RegCo, stated: