SEC Postpones Capital Market Committee Meeting Citing ‘Regulatory Commitments’

The Securities and Exchange Commission (SEC) has postponed its Third Quarter Capital Market Committee (CMC) meeting.

The Commission, on Saturday, said the meeting earlier fixed for November 14, 2024, was postponed to allow it to attend to ‘urgent regulatory commitments’.

The CMC is an industry-wide body comprising the SEC, capital market operators, trade groups, and other stakeholders.

It serves as a pivotal platform for dialogue, facilitates the exchange of ideas, addresses key issues affecting market growth and organisation, and collaborates on shaping the market’s future.

The committee was established primarily as a means for stakeholders to exchange ideas and provide feedback to the SEC, aiding in the continuous improvement of market operations and regulatory frameworks.

The meeting draws CEOs from all registered capital market firms, including brokers/dealers, investment advisers, custodians, fund/portfolio managers, and more.

The statement from SEC read in part, “The Commission is constrained to postpone the forthcoming Capital Market Committee meeting to allow the Commission to attend to urgent regulatory commitments.

“We will communicate the new date in the coming days. We sincerely apologise for any inconveniences caused by the postponement,” it stated.

The CMC was primarily established to serve as a medium for the exchange of ideas among market stakeholders as well as an avenue for providing feedback to the SEC on how to continuously address challenges, improve market operations and enhance the regulatory framework.

It is an industry-wide committee comprising members of the SEC, representatives of capital market operators and trade groups and other stakeholders. The CMC meets every quarter.