Capital Market Solicitors ABL 2021: Aig Imokhuede, Tinuade Awe, Others to Address This Year’s Theme
Excerpts from the exclusive interview with Annual Business Luncheon Chairman, Benjamin Obidegwu
1. How are preparations for the forthcoming Luncheon?
Preparations are at full steam, and we are raring to go. It is the second virtual Annual Business Luncheon we have organised. Last year’s Luncheon was the first ever virtually organised one, and with that experience, we have an added advantage and knowledge and are coming back with a bang despite the circumstances. Planning and coordinating the business luncheon has been challenging. The planning committee led by Mr. Ayodeji Oyetunde has put together an amazing event and we grateful to them.
2. What would you say are the required knowledge and skills of a Capital Market Solicitor in today’s economy?
It is a given that as a Capital Market Solicitor, your knowledge of and understanding of the various laws and regulations guiding the capital market is very important, not forgetting the peculiarities of the capital market in your jurisdiction. This enables the solicitor to provide the client with the appropriate legal advice required in respect of any capital market transaction and to assist to structure any such transaction in a manner that meets the objectives of the client and complies with the regulatory requirements.
3. How does the chosen theme for each year, the sub-topics, or the selected panel at each conference drive participation amongst your members in the sector?
The Annual Business Luncheon is one of the various knowledge-sharing platforms of CMSA, albeit on a grander stage. The themes and sub-themes are borne out of many factors. Some of the factors include emerging trends in the business world and how it impacts and can be impacted by the capital market. We always ensure that the theme and sub-topics selected for each year’s conference is relevant to our members, and is able to assist them to develop their respective practices. Also, panellists and speakers at each conference are able to provide practical insights in respect of the selected theme. Our members that attend the conference also have the opportunity to engage panellists and speakers at the event and to ask additional questions on any areas requiring clarification.
To cut short the narrative, these topics are mostly areas where more knowledge and technical know-how is needed, which in its own way drives the participation of members in the conference. Lawyers are curious by nature and will go to every extent to seek and acquire knowledge.
4. What is the theme of the CMSA 2021 Annual Business Luncheon and what sort of engagement can we look forward to on this theme?
The theme of this year’s Luncheon is “Technology Driven Products in the Capital Market: Prospect & Challenges”. It promises to be extremely engaging as we have identified speakers and panellists who are able to speak to the key areas, prospects, and challenges arising from the use of technology in the capital market space.
5. Not to pre-empt discussions, but what would you say is the role of the capital market regulators in driving this initiative of promoting technology-driven products? And what role capital market solicitors should play?
It is no gainsaying that we live in a fast-changing world that is technology-driven. Capital Market is not left out. To keep pace with this fast-changing world, everyone including regulators will have to be abreast and adapt to the pace of the fast-changing world and properly understand the dynamics. Going back to your question, the regulator should take immediate steps to ensure that the various laws and rules guiding the market which were made without contemplation of the changes that technology has brought to bring them up to speed with present-day reality.
The principal job of the capital market solicitors in all these is to first ensure compliance with every available enactment, regulation, and rule. It is also the duty of the Solicitors to aid these companies in the various filling required.
6. What is the CMSA’s plans post-event in taking the theme forward and actualizing its goals following the deliberations?
The intention is to start a very engaging conversation on the prospects and challenges arising from the use of technology driven products in the capital market. During the conference, solutions would be identified to any challenges and suggestions proferred on better ways to move the market forward through the use of such technology driven products. Post-event, the CMSA would continue this discussion and seek to engage relevant stakeholders including regulators on implementing the various proposals made during the event.
7. What would count as success for you after this event?
First, is high attendee participation. Second, is for our regulator to also ensure that the novel suggestions on ways to improve and enhance the development of technology-driven products that will be canvassed by speakers and panellists are adopted and implemented. However, we are very confident that the takeaway of the Nigerian capital market’s capacity to explore the role and prospects of the technology sector can help improve the framework, especially in response to the pandemic and for the future.
