Overview

The Investments and Securities Act, 2007 is a Nigerian legislation that establishes the Securities and Exchange Commission (SEC) and repeals the previous 1999 Act. It outlines the Commission's powers and functions to regulate the capital market, including new provisions for mergers, acquisitions, takeovers, and collective investment schemes. The Act covers the establishment of the SEC, its board composition, management, staff, financial provisions, and detailed regulations for securities exchanges, capital trade points, self-regulatory organizations, and capital market operators. It also includes provisions for inspections, investigations, and enforcement actions such as revocation of registration or winding up of failing operators.

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