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Biden Regulatory Moves Will Make ESG the ‘Ultimate Investment Megatrend’

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Biden Regulatory Moves Will Make ESG the ‘Ultimate Investment Megatrend’

Biden’s expected regulatory changes will push environmental, social and governance (ESG) investing “to become the ultimate megatrend,” states the CEO of one of the world’s largest independent financial advisory and fintech organisations.

The bold comment from Nigel Green, chief executive and founder of deVere Group, which has $12bn under advisement, comes as President Joe Biden picks Gary Gensler to head the Securities and Exchange Commission (SEC), the U.S. financial regulator.

Mr Green says: “Joe Biden’s administration is going to usher in an era of serious momentum for responsible and sustainable investing.

“This is not just because of the likely tougher approach to the use of fossil fuels and his campaign’s vow to take swift action to tackle the climate emergency.

“It is also because of the expected appointment of Gary Gensler to lead the SEC, who is likely to heavily reform and broaden ESG investing and corporate disclosure rules in the U.S.

“In doing such, we can assume that Gensler would have the major support on the Commission.”

For instance, upon her appointment as acting SEC chair, Allison Herren Lee said that during her time as a Commissioner, “I have focused on climate and sustainability, and those issues will continue to be a priority for me.”

In The New York Times she wrote that: “Both investors and the broader public need clear information about how businesses are contributing to greenhouse gas emissions, and how they are managing — or not managing — climate risks internally. Realistically, that can happen only through mandatory public disclosure.”

Nigel Green continues: “Should the SEC push ahead with beefing-up green investment rules, as is expected, it will close the transatlantic gap that has emerged in recent years as the European watchdogs pushed ahead with increased stricter ESG investing and disclosure regulations.”

He goes on to add: “At the beginning of 2020, I described ESG investing as a ‘megatrend’ of the decade.  And throughout the year inflow doubled and ESG funds outperformed the market.

“But the tag ‘megatrend’ would now seem somewhat underplayed if the U.S. moves towards ESG-related regulatory reforms and comes into line with Europe.

“Responsible investing will become the ultimate investment megatrend should this happen.”

In a move to encourage clients to consider the ESG opportunities, last month deVere Group announced it is planning to offer free, independent advice on socially responsible investing, with the aim of positioning $1bn in environmental, social and governance (ESG) investments within five years.

The deVere concludes: “The likely rule changes in the U.S. on ESG investing and corporate disclosures are not as yet heavily priced-in to markets.

“Investors should keep a keen eye on this area and move to take advantage of the opportunities.”

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Nigerian Exchange Limited

GTCo, Zenith Bank, Access Bank Were The Most Traded Equities on Monday

Stocks of Guaranty Trust Holding Company Plc (GTCo Plc), Zenith Bank, Access Bank and other leading financial institutions were the most traded on Monday at the Nigerian Exchange Limited (NGX).

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Nigerian Exchange Limited - Investors King

Stocks of Guaranty Trust Holding Company Plc (GTCo Plc), Zenith Bank, Access Bank and other leading financial institutions were the most traded on Monday at the Nigerian Exchange Limited (NGX).

Investors transacted 176,053,708 shares worth N2.271 trillion in 4,965 deals during the trading hours of Monday. GTCO was the most traded stock with 21,371,040 shares estimated at N426,794,706.30. This was followed by Zenith Bank’s 20,445,680 shares valued at N429,282,785.05.

Analysing each sector, the banking sector gained 19 basis points (bps) on the back of 9.30% gain in Unity Bank, 1.45% appreciationg of Zenith Bank and 0.30% improvement in Wema Bank. Sterling Bank and Fidelity Bank shed 3.23% and 1.89%, respectively.

The consumer goods sector lost 13bps as stock of Intbrew and Maybaker declined by 6.54% and 6.42%, respectively. However, stocks of Champion, Unilever and Honey Flour closed in the green.

Industrial sector shed 418bps on 9.96% decline in the value of Bua Cement while the oil and gas sector closed flat.

NGX All-Share index extended its decline by 0.83% to 49,950.32 index points, down from 50,370.25 index points it closed on Friday. The market value of all listed equities also declined to N26.936 trillion, respresenting a decline of N226 billion from N27.163 trillion it settled on Friday.

The Exchange year to date return moderated from 17.92% on Friday to 16.93%. See other details below.

Top Gainers 

Symbols Last Close Current Change %Change
CAVERTON N 1.00 N 1.10 0.10 10.00 %
COURTVILLE N 0.40 N 0.44 0.04 10.00 %
CHAMPION N 3.65 N 4.00 0.35 9.59 %
UNITYBNK N 0.43 N 0.47 0.04 9.30 %
LIVESTOCK N 1.15 N 1.25 0.10 8.70 %

Top Losers

Symbols Last Close Current Change %Change
BUACEMENT N 69.30 N 62.40 -6.90 -9.96 %
MCNICHOLS N 0.91 N 0.82 -0.09 -9.89 %
NEIMETH N 1.55 N 1.40 -0.15 -9.68 %
INTBREW N 5.35 N 5.00 -0.35 -6.54 %
MAYBAKER N 3.58 N 3.35 -0.23 -6.42 %

Top Trades

Symbols Volume Value
GTCO 21371040.00 426794706.30
ZENITHBANK 20445680.00 429282785.05
ACCESSCORP 16784565.00 149668133.60
FBNH 14313464.00 153132806.80
UBA 14263232.00 100531057.85

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Nigerian Exchange Limited

We Remain Committed To Enhancing Investor Protection – IPF

The Board of Trustees (BoT) of the Investors’ Protection Fund (IPF) have assured investors that it remains committed to enhancing investors’ protection in the Nigerian capital market (NCM).

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Nigerian Exchange Limited - Investors King

The Board of Trustees (BoT) of the Investors’ Protection Fund (IPF) have assured investors that it remains committed to enhancing investors’ protection in the Nigerian capital market (NCM).

In a statement sent to the investing community, the IPF noted that it has approved an increase in the maximum compensation sum to investors who have suffered pecuniary losses from N400,000 to N500,000.

The statement said, “IPF at its meeting of 18 November 2021 approved an increase in the maximum compensation sum to investors who have suffered pecuniary losses from Four Hundred Thousand Naira (?400,000.00) to Five hundred Thousand Naira (?500,000.00) only.

The BoT reached this decision after due consultation, assessment of the limited resources of the IPF and the volume of claims pending against the IPF as well as the prevailing circumstances in the capital market in determining the increase in the maximum amount of compensation payable”.

According to the IPF, this is in accordance with Rule 26.16 (a) & (c): Amount of Compensation, Rulebook of The Exchange, 2015 (Investors’ Protection Fund Rules) as amended which provides thus: “The maximum compensation payable to an investor who has suffered a loss shall be an amount that is determined by the Board from a written policy from time to time; and where the loss is less than the maximum amount fixed by the Board at any given time, the investor may be paid the full amount of the loss, less any amount or value of all monies or other benefits received or receivable by him from a source other than the Fund in reduction of the loss.

Notwithstanding the above, the amount of compensation may be reviewed by the Board on a biennial basis or as otherwise agreed by the Board as the need arises from time to time. In determining the maximum amount of compensation payable, the Board shall take into account circumstances prevailing in the capital market”.

It thereafter noted that the increase which took effect from 18 November 2021 does not apply to claims made to the IPF before the approval of the increase while adding that it remains committed to enhancing investor protection.

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Nigerian Exchange Limited

NGX Lifts Suspension on C & I Leasing Shares

The Nigerian Exchange Limited (NGX) has lifted the trading suspension placed on trading the shares of C & I Leasing Plc for failing to file its financial results for 2021, Q1 2022 and Q2 2022 as when due.

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Ugoji Lenin Ugoji

The Nigerian Exchange Limited (NGX) has lifted the trading suspension placed on trading the shares of C & I Leasing Plc for failing to file its financial results for 2021, Q1 2022 and Q2 2022 as when due.

In its latest notice, the NGX said C & I Leasing Plc, one (1) of the nine (9) listed companies that were suspended on 1 July 2022, has now filed its Audited Financial Statements for the year ended 31 December 2021, and Unaudited Financial Statements for the quarter ended 31 March 2022.

Therefore, it said in view of the company’s submission of these financial statements, and pursuant to Rule 3.3 of the Default Filing Rules, which states that; “The suspension of trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange.

“The Exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension, that the suspension has been lifted”, Trading License Holders and the Investing Public are hereby notified that the suspension placed on trading on the shares of C & I Leasing Plc was lifted on, 29 July 2022.

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