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    AfCFTA members conclude negotiations on rules of origin to enhance free trade

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    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    McDan suspends private jet operations; asks for guidance and further talks

    ‘E-levy not the solution to revenue shortfall, go to IMF’ – Assibey Yeboah

    Airport workers call for sanctioning of operators who flout regulations

    Hospitality industry players confident of a rebound in business this year

    Tema ECG invests over GH¢3M into system improvement efforts

    Mobile money association of Ghana petitions minority to reject E-levy

    Three startups begin incubation at Ho Node Hub

    Fuel prices to go up as Price Stabilisation and Recovery levy is restored

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    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    Fuel prices to go up as Price Stabilisation and Recovery levy is restored

    Rate of increase in value of MoMo transactions dipped in 2021

    IEA calls for changes in current inflation targeting structure

    Bank of Ghana maintains policy rate at 14.5%

    Kwamina Bentsi Enchill Duker appointed as 1st CEO of Development Bank Ghana

    Cedi depreciation pushes debt to almost GH¢345 billion in Nov; 78.4% of GDP

    Expect another fuel price hike in February – IES

    Too many tax policy inconsistencies worrying – Tax Analyst

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    Extensive consultations held; e-levy to be re-laid in Parliament – Ofori-Atta

    Medical Solutions APP ‘Pocket Pharmacy’ wins Ho Startup summit pitch contest

    Microsoft poaches IBM’s Angela Kyeramaten-Jimoh as new strategic partnership lead for Africa

    MTN apologizes for disruption in MOMO services

    Telco’s committed to March deadline for sim registration exercise – Dr. Ken Ashigbey

    Works of extension of a road

    MTN to sue road contractors for fibre cuts

    Stakeholders call for robust labour standards to improve working conditions of gig workers

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    GISPA conference highlights the need for data localization, protection and economization

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    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    Implement strategies to sustain increased consumer preference for digital payments – Bawumia

    Strict enforcement of AfCFTA regulatory framework will ensure smooth implementation of PAPSS – Bawumia 

    President of Cote d’Ivoire Alassane Ouattara meets Eni’s CEO Claudio Descalzi

    South African president calls for increased trade with Ghana

    More partnerships needed to drive intra-Africa trade – Wamkele Mene

    AfCFTA member states urged to develop right policy frameworks to promote SEZ development

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SEC in talks to improve liquidity among fund and asset managers

bycitibusinessnews
August 22, 2019
in Banking And Finance, Business, Top Stories
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The Securities and Exchange Commission has stated that it is in talks with stakeholders in the securities market to boost liquidity in that sector.

SEC in a statement issued today said it is committed to regulating and promoting the growth and development of an efficient, fair and transparent securities market in which both investors and the integrity of the market are protected.

“We are aware of some level of anxiety among a section of investors because of the recent reforms taking place within the financial system. We wish to reiterate that the objective is to produce sound market operators, stronger financial intermediation and financial inclusion and ultimately a more robust financial sector.

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We are also aware that certain investors are unable to access their matured investments from some of our licensed Asset Management Companies (AMCs) or Fund Managers (FMs) due to some liquidity challenges,” the statement said.

According to SEC, it has instructed all AMCs/FMs to put in place mechanisms to meet their obligations as they fall due to their clients, consistent with the terms and conditions of the investment contracts signed with them.

The Commission further urged dissatisfied customers of these AMCs/FMs to lodge written complaints with the Commission.

“The Commission is engaging with stakeholders on efforts to improve liquidity in the industry. The Commission has and continues to introduce regulatory measures to help ensure a stable, efficient, transparent and fair marketplace where investors’ funds are protected,” the statement read.

Some of these measures the Commission revealed include:

  • Holding AMCs/FMs accountable for honoring their obligations to their clients
  • The introduction and enforcement of corporate governance guidelines for operators in the industry including AMCs/FMs,
  • Higher minimum capital/liquidity requirements for AMCs/FMs and other operators,
  • Stringent licensing requirements,
  • Investment guidelines including restrictions on related party investments/guaranteed investments and
  • Streamlining of the Commission’s internal processes including through automation of processes to promote efficiency.

“Once again, we wish to reiterate that there is no need for panic withdrawals as the Commission is committed to ensuring a sound, efficient and robust market where investors’ funds are protected.

There are well-run and sound licensed AMCs/FMs and investors can confirm by asking a few questions regarding their governance practices, their track record, staff turnover, any unresolved complaints and regulatory breaches,” the statement concluded.

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‘E-levy not the solution to revenue shortfall, go to IMF’ – Assibey Yeboah

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