The Capital Market Solicitors’ Association is an independent self-regulatory association of solicitors and commercial law firms engaged in capital market practice. The Association was established in 2001, with the aim of addressing the marginalization of Solicitors in capital market operations vis-à-vis other professionals, such as Accountants, Brokers and Stockbrokers. It is set up primarily as a platform to articulate and promote the interest of legal practitioners specializing or dealing in capital market transactions.

The establishment of the Association became imperative due to the requirement to register with the Nigerian Securities and Exchange Commission (“SEC”) as Capital Market expert or professional, pursuant to Sections 29 and 30 of the Investments and Securities Act 1990 (the ISA) now Section 38 of ISA 2007 and Rule 38 of the SEC Rules and Regulations. The necessity of registering with SEC is to make it easy to identify solicitors engaged in capital market practice and regulate their operations.

The Association is concerned with developing the legal framework within which the capital market operates and pursues its objectives by organizing training sessions, workshops and seminars for its members on topical issues arising in the capital market. As part of its vision to ensure a knowledgeable, dynamic and strong professional body, the Association has conceived a Continuing Legal Education (“CLE”) Programme for capital market solicitors. The CLE Programme is geared towards developing adequate legal capacity in the Nigerian capital market to meet the demands of an evolving capital market.