Issuing houses, underwriters, fund managers get new registration fee

SEC proposes N10m fees for issuing houses, underwriters, fund managers
The Securities and Exchange Commission (SEC) has proposed N10 million registration fee for issuing houses, underwriters and fund managers from the current fee of N500,000.
The commission stated this in a document titled, “Exposure of proposed new rule and sundry amendments to the rules and regulations of the commission,” posted on its website on Monday.
The new amendment showed that a broker would be required to pay N3 million naira as registration fee against N300,000 currently applicable.
With the new amendment, brokers/dealers would pay N5 five million, from N500,000 as registration fee.
A broker/dealer is expected to pay N100,000 each as processing fees and registration of sponsored individuals in the new rule.
The fee for Sub-brokers (digital) was increased to N1 million from N200,000; sub-brokers (corporate) to N1 million from N200,000 and inter-dealer brokers to N5 million from the current N500,000.


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