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NSE honours Capital Assets as most-compliant stockbroking firm

The Nigerian Stock Exchange (NSE) has adjudged Capital Assets Limited as the best managed stockbroking firm in Nigeria. The NSE at its end-of-year ceremony in Lagos awarded its highly-prized “Most Compliant Dealing Member Firm” in the stock market to Capital Assets Limited.

Chief executive officer, Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, explained that Capital Assets emerged atop the list of all capital market operators, including indigenous and foreign firms, in all the four criteria used to select the “Most Compliant Dealing Member Firm”.

He outlined that the criteria for the “Most Compliant Firm Award” included compliance with the minimum operating standards (MOS) of the Exchange, adequate and timely rendition of statutory and regulatory returns, zero complaint by investors and all other stakeholders and high ethical standards and impressive customer service that leave no room for any penalty.

Onyema commended Capital Assets for operating with global best practices urging the company to continue to show leadership and raise the flag of Nigeria high in the international markets.

The NSE also honoured Stanbic IBTC Stockbrokers for recording the largest volume of activities during the year.

In an industry-wide review, Capital Assets scored 100 per cent in all the areas of the MOS.

The NSE had introduced the MOS in April 2014 as part of efforts to develop a stronger, stable and sustainable capital market. The MOS are a set of standards prescribed by the Exchange for dealing members to develop robust controls; strong governance framework and effective human capital that will enable them achieve best-in-class operations in order to compete on a global level for the benefit of investors and the Nigerian capital market.

According to the Exchange, the main objective of the MOS is to ensure effective operational, technological and governance structures among the dealing members of the Exchange.

The Exchange had stated that given the dynamic nature of the capital market, the diverse mix of local and foreign investors can only invest when confident that dealing members operate pursuant to clearly defined standards that are comparable to those to which broker dealers in developed markets operate with in terms of size, skill, technology and organizational governance.


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