SEC to update investors on recent bailout on 19 November

This forms part of the SEC's mandate of regulating, innovating, and promoting the growth and development of a transparent securities market

The Securities and Exchange Commission (SEC) is expected to update investors on its recent bailout to fund management companies on 19 November 2020.

SEC will also use the opportunity to inform investors on important progress being made by the commission to safeguard their investment.

The official Liquidator of Fund Management Companies, the registrar-general, last month began payment of the bailout funds for the first batch of investors whose funds were locked in some defunct firms.  

It follows the successful validation of claims and the completion of creditor meetings with the registrar-general and investors of some collapsed 20 Fund Management companies.

The Securities and Exchange Commission (SEC) in November last year revoked the licenses of some 53 fund management firms for failing to return clients funds in contravention of the investment rules.

Time with SEC series 

Meanwhile, SEC has begun rolling out an engagement series dubbed “Time with the Commission” in a bid to improve its relationship with the investing public and market operators in the capital market.

The move forms part of the Commission’s mandate of regulating, innovating, and promoting the growth and development of an efficient, fair, and transparent securities market.

The first in the series of engagement programmes was held in Accra with the Ghana Securities Industry Association (GSIA) and its members to highlight the contents of the following newly issued guidelines for market operators: licensing requirements for market operators; code of business guidelines; regulatory sandbox licensing guidelines and the corporate governance code.

The next engagement of the series, scheduled for 19 November 2020, will involve members of the investing public and other key stakeholders.

 Fred Dzakpata  

Asaase Radio 99.5 – tune in or log on to broadcasts online.

Follow us on Twitter: @asaaseradio995

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