SEC Encourages Capital Market Registrars to Drive Innovation
The Securities & Exchange Commission (SEC) has called on registrars and other Capital Market Operators (CMOs) to embrace innovation and explore new opportunities in response to evolving changes in the global market. This message was delivered by Dr. Emomotimi Agama, Director-General of the SEC, during the 14th Annual Conference & Presidential Investiture of the Institute of Capital Market Registrars (ICMR) held in Lagos over the weekend.
The theme of the 2025 conference, “Unlocking Global Value: The Evolving Market Role of Capital Market Registrars in Trust, Efficiency and Innovation,” highlighted the critical role that registrars play in maintaining investor confidence and ensuring efficient market operations. Agama, who was represented by Executive Commissioner (Operations), Mr. Bola Ajomale, emphasized the need for registrars to remain proactive and innovative. He warned that if the profession fails to evolve, unregulated players could potentially take over their functions.
In a goodwill message, the Group Chairman of NGX Group, Alhaji (Dr.) Umaru Kwairanga, described registrars as “the quiet custodians of confidence and credibility.” He stressed that their accuracy and efficiency are fundamental to maintaining investor trust and upholding corporate governance standards.
Key Imperatives for the Registrar Profession
During the conference, Group Vice President of Dangote Industries Limited, Mr. Olakunle Alake, delivered a keynote address outlining three key imperatives for the registrar profession:
- Digitization and Cybersecurity: Registrars must embrace digital platforms while ensuring robust safeguards to protect data integrity. As technology continues to reshape the financial landscape, it is crucial to maintain secure and reliable systems.
- Capacity Building and Training: Continuous education must be non-negotiable. With the world changing rapidly, outdated skills will no longer suffice. Registrars must invest in ongoing training to stay competitive and relevant.
- Global Benchmarking: Rather than merely meeting local standards, registrars should aim to benchmark against global best practices. This approach will help them remain at the forefront of industry developments and contribute to a more resilient capital market.
Repositioning as Trusted Tech-Enabled Partners
Founder and Vice Chairman of Emerging Africa Group, Dr. Toyin Sanni, urged registrars to reposition themselves as trusted, tech-enabled partners in the investment value chain. She emphasized the importance of leveraging technology to enhance service delivery and build stronger relationships with stakeholders.
The Path Forward
As the capital market continues to evolve, the role of registrars is becoming increasingly vital. Their ability to adapt to technological advancements, maintain high standards of efficiency, and ensure transparency will determine their relevance in the years to come. The SEC’s call for innovation and proactive engagement serves as a reminder that the profession must continuously evolve to meet the demands of a dynamic global market.
By embracing digitization, investing in training, and aligning with global standards, registrars can not only safeguard their roles but also contribute to the growth and stability of the capital market. The insights shared at the ICMR conference highlight the importance of collaboration, continuous learning, and a forward-thinking approach to ensure that registrars remain integral to the financial ecosystem.