Investor Presentaiton

ENFORCEMENT Thirty four (34) new cases were referred for enforcement action in 2013. These cases include the underlisted infractions: • Unauthorized sale of clients shares Mismanagement of clients portfolio accounts • . Non execution of Mandates . . Non-allotment of shares Non-remittance of proceeds of sale Non-rendition of periodic returns and annual audited accounts • Illegal operation of Fund Managers/Wonder Banks, etc The enforcement arm of the Commission participated in the activities of the Inter Agency Committee on Illegal Operators/Wonder Banks to investigate their activities and seal up their offices in the country. In 2013, the Order of the Federal High Court was obtained SEC v ALLGREEN INVESTMENT LIMITED & 30 Ors (IST/OA/17/07) to liquidate 26 out of 30 illegal Fund Managers/Wonder Banks which constituted 98% of the total claims of N104 billion. The Commission, pursuant to the MMou entered into by members of the IOSCO, assisted the Hong Kong Securities and Futures Commission to carry out some investigations in Nigeria 1ST QUARTER 2ND QUARTER 3RD QUARTER 4TH QUARTER Thirty one (31) cases were referred to the Nigerian Police Force for criminal investigation and prosecution. These cases bordered on: Operating in the capital market without registration Misappropriation of funds • Conversion • Forgery and other suspected crimes Annual Report and Accounts 2013 - Securities & Exchange Commission 107

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