Members’ Examination & Investigation

The focus here is on Members’ compliance with FMDQ market standards relating to the OTC market activities. It is designed to initiate effective supervisory action when compliance management system is deficient and/or when violations are found. Members’ Examination & Investigation covers Members’ business conduct and Dealing Members’ trading practices.

Members' Business Conduct

Members’ Examination & Investigation scrutinises Members’ business conduct to ensure that they implement policies, procedures and appropriate controls in compliance with regulatory requirements, with a focus on procedures, internal control, capacity requirements (such as infrastructure and technical knowledge), methods of risk identification, measurement and reporting, Board and Senior Management oversight, compliance with relevant regulations including but not limited to regulations by the Central Bank of Nigeria, Securities and Exchange Commission and Debt Management Office.

Dealing Members' Trading Practices

Members’ Examination & Investigation reviews Dealing Members’ trading practices to ensure that trading activities and procedures comply with FMDQ trading rules, regulation and any other relevant regulation as may be released from time to time. The focus here is on Dealing Members’ capacity requirements (such as dealing operations, infrastructure and manpower), settlement practices, risk management practices, trade reporting obligations, etc.