Regulatory Returns Filing Calendar For Public Companies

This comprehensive regulatory return filing calendar provides public companies with a clear and structured timeline for submitting their mandatory returns to the Securities and Exchange Commission (SEC) of Nigeria. Timely and accurate filing of regulatory returns is essential for maintaining market transparency, ensuring compliance with legal and regulatory requirements, and fulfilling the governance obligations of public companies.

Importance of Timely Return Filing:

The timely filing of regulatory returns is crucial for public companies for several reasons:

• Promotes Transparency and Disclosure: Regular submission of returns provides stakeholders with access to critical information about the company's financial performance, operational activities, and governance practices.
• Ensures Compliance with Regulations: Regulatory returns serve as a means of demonstrating compliance with applicable laws, regulations, and SEC directives, mitigating potential legal and reputational risks.
• Supports Effective Decision-Making: Investors, analysts, and other stakeholders rely on regulatory returns to make informed decisions about the company's financial health, investment potential, and overall risk profile.
• Fulfills Governance Obligations: Public companies have a fiduciary duty to keep their stakeholders informed and to operate in a transparent and compliant manner. Timely return filing is a key aspect of fulfilling these governance obligations.

Overview of Regulatory Return Filing Requirements:

Public companies are required to file various types of regulatory returns with the SEC, each with specific filing deadlines:

• Annual Reports and Accounts: Audited annual reports and accounts must be filed within three months after the end of the company's accounting year, providing a comprehensive overview of the company's financial performance, operational highlights, and governance structure.
• Quarterly Financial Statements: Unaudited quarterly financial statements must be filed within 30 days after the end of each quarter, providing an up-to-date snapshot of the company's financial position and performance.
• Reports on Corporate Governance: Annual reports on corporate governance must be filed within 30 days after the end of the company's accounting year, detailing the company's governance framework, risk management practices, and compliance with corporate governance codes.

Navigating the Regulatory Return Filing Process:

To ensure timely and accurate filing of regulatory returns, public companies should:

• Establish a Clear Return Filing Process: Develop a structured process for preparing, reviewing, and submitting returns, assigning clear responsibilities and deadlines.
• Maintain Accurate Records: Keep comprehensive records of financial transactions, operational activities, and governance decisions to facilitate the preparation of accurate returns.
• Seek Professional Guidance: Consult with qualified accountants, legal professionals, and corporate governance experts to ensure compliance with complex regulatory requirements.

Advancing Market Integrity and Investor Protection:

The adherence to regulatory return filing requirements plays a vital role in promoting market integrity and safeguarding investor interests. By ensuring transparency, accountability, and compliance, the SEC safeguards the Nigerian capital market and fosters a conducive environment for sustainable investment growth.