SEC acting D-G elected into IOSCO board

Ms Mary Uduk, Acting Director-General, Securities and Exchange Commission (SEC), has been elected into the board of the International Organisation of Securities Commissions (IOSCO).

Mrs Efe Ebelo, Head, Corporate Communication of SEC, in a statement on Monday in Abuja, said Uduk would represent the Africa/Middle-East Regional Committee (AMERC) on the board for a period of two years.

Ebelo said that the Secretary General of IOSCO, Mr Paul Andrews, announced the result, saying the voting period for the AMERC representative position ended on March 20.

Andrews was quoted to have said that the committee elected SEC Nigeria as AMERC Representative to the IOSCO Board from 2020 to 2022.

In her response to the announcement, Uduk expressed gratitude on behalf of SEC Nigeria to all AMERC members for their support in electing the commission.

She said: “I am indeed honoured for the trust and confidence reposed on SEC Nigeria and wish to restate our commitment to conscientiously represent the region at the board.

“We will work closely with Ms Nehza Hayat, the incoming AMERC Chair and all other AMERC members on the board to advance the course of the region.

“I thank you immensely for your support, and kindly accept my highest regards, while I urge everyone to keep safe at this period,” Uduk said.

IOSCO is an association of organisations that regulate the world’s securities and futures markets.

Members are typically primary securities and/or future regulators in a national jurisdiction or the main financial regulator from each country.

The IOSCO Board is its governing and standard-setting body, which comprised of 31 securities regulators.

The AMERC comprises securities regulators that are IOSCO members within the Middle East and North Africa as well as sub-Saharan African region.