Securities and Exchange Commission (SEC)

Money Moves

Approved the IPO on September 5

The offer, which opened September 14 on the Nigerian Exchange, is now oversubscribed and extended to October 27. Subscriptions have topped the 2.15 trillion naira target by three to four times, Aliko Dangote said. Kenya and Uganda have approved routes for their investors to take part.

Updated Yesterday

Rule Changes

Approving exchange fee changes under immediate effectiveness provisions

Options exchanges are locked in a chaotic race to recalibrate fees as their regulatory costs collide with record trading volumes. Cboe doubled its Options Regulatory Fee to $0.0002 per contract on January 2, 2026, while NYSE slashed its fee from $0.0038 to $0.0026. The whipsaw reflects a deeper crisis: exchanges collect fees based on all customer options trades cleared industrywide, not just trades on their own platforms, creating unpredictable revenue swings.

Updated May 19