Tag: Fund management companies
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Registrar-General to meet customers of defunct FMC’s on Thursday
The Registrar-General, Jemima Oware is organising virtual investor class meetings for customers of defunct fund management companies today, Thursday, November 26, 2020. Today’s meeting will commence at 9 am. The virtual meeting is being organised to discuss government’s bailout plan for investors of the various defunct fund management firms. Today’s meeting comes a day after…
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We have GH¢1.35bn locked up in collapsed Microfinance, S&Ls – Fund Managers lament
The Ghana Securities Industry Association, GSIA, is appealing to the Ministry of Finance to urgently facilitate the payments of locked up monies estimated at 1.35 billion cedis, belonging to its members in the collapsed Savings and Loans and Microfinance Companies. The Association says the delay in accessing their funds is affecting onward payments to their…
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Customers of defunct fund managers will be paid after verification – SEC assures
The Deputy Director-General of the Securities and Exchange Commission, SEC, Paul Ababio, says investors of the collapsed fund management companies would soon have access to their funds when their claims are successfully validated. This follows renewed concerns over the silence of the capital market regulator which revoked the licenses of some 53 fund management companies…
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Customers of collapsed Fund Managers accuse gov’t of neglecting them
Customers of defunct fund management companies have expressed worry about government’s seeming lack of concern in the recovery of their locked up funds. President Akufo-Addo in the State of the Nation Address last week assured customers of defunct Savings and Loans and Microfinance Companies including DKM customers, that they will be paid their funds in…
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SEC apologizes to customers of defunct fund management firms; assures of smooth validation process
The Securities and Exchange Commission, SEC, has attributed its inability to attend to customers of some defunct fund management companies in parts of the country to logistical challenges. Customers of the defunct fund management companies who visited various validation centres in Kumasi, Accra, Tamale and Ho, were left stranded as no official from the SEC…
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List of Fund Managers remaining after SEC mass license revocation
The Securities and Exchange Commission last Friday revoked the licenses of 53 fund management companies citing several regulatory breaches. A press release issued by SEC said the companies among other things failed to honour clients’ redemption requests, placed funds in unregulated investments, used clients’ funds to fund related parties’ activities. Out of the 53 companies,…