This scenario has raised a polemic question on the strategic focus of SEC as the Capital Market Apex Regulator and its funding structure. The United States Securities and Exchange Commission in Washington DC is funded by the government through the appropriation processes of Congress. Fillings in the United States capital market do not require fees while registrations attract minimal charges. In China, China Securities Regulatory Commission (CSRC), a ministerial-level public institution under the State Council drives the securities market. xThe SEC in Nigeria is a government oversight agency that regulates the capital market, especially through investor protection and ensures allocative efficiency of the market.

Source: The Guardian September 23, 2021 03:17 UTC