NGX RegCo unveils code of conduct for approved persons of Trading License Holders

NGX Regulation Limited has released the “Code of Conduct for Approved Persons of Trading License Holders” of Nigerian Exchange Limited (NGX). This is in keeping with its commitment to promoting high professional standards and ethical conduct within the capital market.

The Code which was approved by the Securities and Exchange Commission (SEC) on 16 August 2023, will take effect on 3 October 2023.

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. This commitment is poised to bolster investor confidence and pave the way for a sustainable and thriving market.

The Code emphasises high professional standards, reasonable skill, care, and prudence, as well as adherence to ethical and practical standards. Furthermore, it highlights the expected standards and values that approved persons must display at all times when conducting their businesses at all times.

Commenting on the development, Ms Tinuade Awe, Chief Executive Officer, NGX Regulation Limited noted that “At NGX RegCo, we understand the profound impact that a strong ethical foundation can have on the integrity and sustainability of the capital market.