01-03-2016 by 
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Participants at the recently concluded 2016 Judges Workshop on Effective Dispute Resolution have issued a communiqué. Below are the main takeaways of the deliberations during the workshop

 

  1. In the quest to develop a vibrant capital market, the central role of the Judiciary in the maintenance of market integrity cannot be overlooked.
  1. The Workshop should be an annual calendar event.
  1. The current market wide reforms by the SEC, are ground breaking initiatives that would revolutionize the Nigerian capital market.
  1. Judicial review of decisions of SEC’s APC by the IST and the Federal High Court need to preserve and enhance the integrity of dispute resolution mechanism in the capital market.
  1. A comprehensive reform agenda for the Investments and Securities Tribunal (IST) needs to be urgently instituted.
  1. The SEC should promote Securities Arbitration and other ADR mechanisms.
  1. Judicial pronouncements and decisions on capital market issues should be progressive, taking into consideration the overriding wellbeing of the market and the protection of investors.
  1. The adoption of the doctrine of judicial deference in capital market matters should be encouraged.
  1. The investor protection and dispute resolution mechanism in the market must be supported by an equally robust enforcement framework.
  1. The controversies with respect to the jurisdiction of the IST need to be conclusively tackled via a Constitutional amendment.    Read more

 

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