Tag: SEC
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‘Reinstated’ Fund Managers must have money to pay us – Customers tell SEC
The Coalition of Aggrieved Customers of Collapsed Fund Management Companies is calling on the Securities and Exchange Commission to ensure that any company whose license is restored, is liquid enough to pay clients back their locked-up investments. This follows an announcement by the Chief Executive Officer of the Securities and Exchange Commission, Rev. Daniel Ogbamey…
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SEC to restore licenses of some ‘collapsed’ Fund Management Companies soon
The Securities and Exchange Commission (SEC) has said it will in the coming days restore the licenses of some fund management companies whose licenses were revoked in 2019. This was disclosed by the Chief Executive Officer of the Securities and Exchange Commission, Rev. Daniel Ogbamey Tetteh on Tuesday 9th June, 2020 on the Citi Breakfast…
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Enough of the validation; pay us our money – Customers of defunct Fund Managers tell SEC
The Coalition of Aggrieved Customers of Collapsed Fund Management Companies is asking the Securities and Exchange Commission (SEC), to concurrently carry out the proposed validation process of their claims alongside payment of locked up funds. It was the expectation of the affected customers that they would receive their monies as government started paying customers of…
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No end date yet for validation exercise for investors of defunct fund managers -SEC
The Securities and Exchange Commission, SEC, says it has not yet set a date to end the filing of validation for claims by customers of the defunct fund management companies since it wants to cater for as many investors as possible. The Commission says the move is necessary to assure customers and rebuild confidence in…
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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…
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First Finance Company launches two mutual funds
First Finance Company Limited, has launched two Mutual Funds onto the Ghanaian Market. The two funds are the Financial Independence Fund and the Elite Mutual fund. The Financial Independence Fund is targeted at investing in high-quality investment-grade fixed income securities that will provide security and liquidity for investors in emergencies such as temporary loss of…
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SEC probes operations of Golden Empire Legacy Limited
The Securities and Exchange Commission (SEC) has disclosed to Citi Business News that it is investigating the operations of Golden Empire Legacy Limited which is involved in the trading of gold. The Director General of the SEC, Daniel Ogbarmey Tetteh says the company has not been licensed by the outfit though it offers returns on…
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Gold Coast Fund Management engages SEC over liquidity issues
Gold Coast Fund Management (GCFM) has welcomed confirmation by the Securities and Exchange Commission (SEC) that it is seriously engaging with the company to find a lasting solution to the liquidity crisis it is facing. The Commission has revealed it has received and started reviewing proposals from GCFM, the biggest fund manager, on how the…
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Six fund managers exit investment market
The Securities and Exchange Commission (SEC) has cautioned the public against doing business with some six fund management companies who have voluntarily ceased their operations. The companies cited various reasons for the decision. As a result, the regulator says they are not supposed to engage the public in that capacity henceforth. The fund management companies…