SEC plans new guidelines to help CMOs, investors digitise operations

SECURI TIES AND EX CHANGE COMMIS SION (SEC) plans to introduce some key roles that will enable operators and investors in the capital market to digitalise all their operations.

The management of SEC said the key roles will be contained in a Minimum Operating Standards for Information Technology for capital market operators (CMOs).

SEC further stated that the key roles would develop a threshold for operational efficiency in the market through effective provision of information and technology (IT) in promoting businesses to get good security, confidentiality, integrity and reliability of information and technology systems.

In addition to that, it also said the guideline will protect the operators and help them harness huge benefits deducible from the adoption of technology and also maintain the attendant cybersecurity threats and other risks that go alongside the use of technolog y.

“This will help operators harness the huge benefits derivable from the adoption of technology and also manage the attendant cyber-security threats and other risks that accompany the use of technology. It will also positively impact on the effectiveness and efficiency of the Commission to monitor and regulate all capital market operators in the market,” SEC said.