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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Capital markets regulation in Nigeria and the UK: the role of the courts
Author:Lomnicka, EvaISNI
Year:2002
Periodical:Journal of African Law
Volume:46
Issue:2
Pages:155-166
Language:English
Geographic term:Nigeria
Subjects:investments
legislation
financial policy
External link:https://www.jstor.org/stable/4141331
Abstract:Both Nigeria and the UK have recently overhauled their securities regulation regimes, Nigeria by its Investment and Securities Act (ISA 1999) and the UK by its Financial Services and Markets Act (FSMA 2000). Although both statutes have some common features, there are significant differences between them. One area of difference lies in the enforcement of the regimes. In contrast to the FSMA 2000, the extensive reliance on criminal sanctions by the ISA 1999 is striking. Considering the shortcomings of criminal sanctions in securities regulation, this article draws attention to the alternatives to criminal liability open to the Nigerian courts. It also examines the potential for bringing regulators to court and considers the degree of immunity that might be appropriate. Notes, ref., sum. (p. I). [Journal abstract]
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