Shareholder rights and corporate governance: Be the vanguard of your destiny

by Eze Nwagbaraji for Vanguard, September 12th, 2010.

In an altruistic world, markets should function in near efficient pathways. Market regulators would be vigilant and protect the interests of those who have been invited to participate in the build up to robust markets.

The primary focus of the market regulator would be to use sound economic and market principles to advance the interests of all participants and those who lose money in the markets, will at its minimum be confident that they lost money in a fair market, where success and failure are based purely on their abilities and knowledge to understand the principles of risks and reward.

Altruism is not a term that is associated with the rough and tumble world of investing. This is the primary reason for the creation of market umpires, known as regulators, whose primary function is to supervise all market activities, protect those who come to participate in the market, deter those who come to markets to game the system and its participants, and punish those caught in sharp practices and market manipulation.

The lead umpire in securities and equity markets is the Securities and Exchange Commission, set up as a government structure to referee the workings of the market. The Nigerian Securities and Exchange Commission (SEC) represent our decisive attempt to put in place the proper structure to lead the workings of our markets and assist in the advancement of a coordinated functional securities and equities system that assures the investing world that ours is a market worth trusting.  (continue reading… )

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