Capital market solicitors seek to amend its constitution

The Capital Market Solicitors Association (CMSA) has moved to amend its Constitution to accommodate more lawyers who are registered with the Nigerian Stock Exchange but chose to identify with them.

The chairperson of the group, Mrs. Yinka Edu made this known in Lagos last week during its 15th annual general meeting.She said that there has been an increased focus on Anti-Money Laundering recently and, that Nigeria has been going through a national risk assessment process.

“This has involved an assessment of capital market transactions and the SEC  group carrying out the risk assessment has met with the Association as part of that process. There is a national workshop in collaboration with the World Bank to disclose the outcome of the study and further to this, the Association will be seeking to work with the SEC to organise a training programme for our members on Anti-money laundering.

“In addition, it is intended that the CMSA with the support of the International Swaps and Derivatives Association (ISDA) will host a 2 (two) day conference targeted towards discussions on developing the derivatives market.

“The event will be a market event for all capital market participants and interested parties and will be in October of this year. Although it will take a slightly different format from our usual Business Luncheon, it is intended that this will replace our annual Business Luncheon for this year.

“We look forward to your support for this event which we hope will assist with the promotion of the local derivatives market. We already have a group of lawyers working with the FMDQ to review the Model Netting Law with a view to having it introduced as a Bill to the National Assembly. This event is seen as an important step towards the development of a derivatives market and so, we would very much appreciate your assistance”, she implored her members.