Tag: SEC
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IFC and SEC partner to develop green bonds market
In its quest to unlock investment for private sector projects that support renewable energy and energy efficiency in the country, IFC and the Securities and Exchange Commission (SEC) have partnered to facilitate investments in projects that address climate and environmental issues through green bonds. Under the agreement, IFC, a member of the World Bank Group,…
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GHS768 million paid to over 6,000 clients of defunct FMCs – SEC
The Securities and Exchange Commission (SEC) has stated that about GHS768 million has been credited to the accounts of some 6,916 clients of the 53 defunct Fund Management Companies, who signed up for the government’s full bailout programme. According to the Commission, actual payments also made under the Partial Bailout Programme as of March 31,…
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We’re keen on ensuring healthy capital market, protection of investors funds – SEC
The Securities and Exchange Commission (SEC) is taking pragmatic steps to strengthen the capital market and to protect investors’ funds, Deputy Director-General Paul Ababio has said. Speaking during Tesah Capital webinar on the theme: “Investing after the Financial Sector clean-up,” Mr. Ababio said key among the measures was the issuance of new guidelines for market…
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Registrar General to meet clients of six defunct FMCs virtually on Thursday
The Registrar General, Jemima Oware, is set to have a meeting with customers of some six defunct fund management companies on Thursday, March 11, 2021. The meeting which is the first for this year will be held virtually. Dubbed Virtual First Creditors meeting, the session will be from 9:00 am to 3:30 pm on the…
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SEC warns public against investing in Wiseling Online Investment Company
The Securities and Exchange Commission (SEC) has cautioned the public against investing in Finland-based company operating in Ghana, Wiseling Online Investment Company. SEC says it has not licensed the company to carry out any Capital Market activity including investing or trading for returns as mandated by Section 3 of the Securities Industry Act, 2016 (Act…
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GIPC begins probe into activities of Chy Century Heng Yue Group
The Ghana Investment Promotion Centre, GIPC, has begun investigations into activities of Chinese companies, Chy Century Heng Yue Group Limited and Sairui E-commerce Ghana Limited. This follows claims by Chy Century Heng Yue Group Limited and Sairui E-commerce Ghana Limited that they have registered with the Ghana Investment Promotion Center, hence their activities are legal.…
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Don’t invest in Chy Century Heng Yue, Sairui E-Commerce – SEC cautions
The Securities and Exchange Commission, SEC, the statutory body mandated to promote the orderly growth and development of the securities market in Ghana is cautioning the general public against dealing with Chy Century Heng Yue Group Limited and Sairui E-commerce Ghana Limited. A statement from the SEC noted that Chy Century Heng Yue Group Limited…
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Amalgamated Mutual Fund PLC begins partial bailout payments to clients of collapsed FMCs
The Amalgamated Mutual Fund PLC (The AM Fund) has commenced cash payments under the partial bailout scheme to clients of the Fund Management Companies (FMCs) for which the Official Liquidator is yet to obtain Liquidation Orders from the courts. This follows the announcement by the Securities and Exchange Commission (SEC) on November 18, 2020, that…
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Blackshied customers, others to receive partial payment of up to GHS50,000 – SEC
Government has authorised a partial payment of up to GHS50,000 to all customers of the remaining defunct Fund Management Companies whose monies were locked up. This follows an earlier directive by government to pay customers whose claims were validated. A statement issued by the Securities and Exchange Commission (SEC) on Wednesday, November 18, 2020, said…
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Don’t pay facilitation fees to access locked-up cash – SEC to clients
The Securities Exchange Commission (SEC) has advised customers of the defunct fund management companies to refrain from paying a facilitation fee to get access to their locked-up cash. An entity, PBAY Limited is purporting to be able to facilitate the payment of customers locked-up funds with some SEC-regulated market operators whose licenses have been revoked…