Tag: collapsed fund managers
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We’ve instituted stringent measures to detect distressed banks – BoG Governor
The Governor of the Bank of Ghana, Dr. Ernest Addison, says the central bank has put in place stringent measures to rapidly detect signs of distress exhibited by financial institutions, to immediately step in and protect the funds of depositors. The Governor says the measures include tightening of the bank’s supervisory role to stop the…
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Fund management customers threaten to vote against Akufo-Addo over unpaid funds
Members of a group calling itself the Coalition of Aggrieved Fund Management Customers have given government by close of July to pay all locked up funds due them or face their wrath. In March this year, the Deputy Director-General of the Securities and Exchange Commission, SEC, Paul Ababio, told Citi Business News investors of the…
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Banking sector reforms: Action was necessary to build a robust financial sector – NAPO
It appears government officials and particularly Bank of Ghana officials, would have to keep explaining for a little longer why the financial sector clean-up was a necessary evil. Following arguments for and against the exercise including even the political twists often attached to it, government officials have had to reiterate many times why it was…
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Mutual funds not affected by revocation of fund managers’ licenses – SEC
The Securities and Exchange Commission, SEC, has announced that the revocation of licenses of some 53 Fund Management Companies will not affect valid licenses of mutual funds that were managed by the collapsed companies. By this, SEC has directed the managers of these mutual funds to ensure that the schemes continue to run in the…