Regulatory Alerts2020-03-29
SEC Notice on Restriction on Movement of Persons for Capital Market Operators
The Securities and Exchange Commission of Ghana issued Notice No. SEC/PN/003/03/2020 to enforce movement restrictions under the Imposition of Restrictions Act, 2020. Market operators in unaffected areas must maintain standard working hours, while those in restricted zones must operate with minimal staff and utilize electronic means for client communications and transactions. The notice also mandates continued adherence to prior COVID-19 guidelines and specifies email addresses for regulatory reporting by various license holders.
‘Ensuring Investor Protection’ SECURITIES AND EXCHANGE COMMISSION The Securities and Exchange Commission (SEC) hereby issues this Notice pursuant to Section 3 and 209 of the Securities Industry Act, 2016 (Act 929). In furtherance to the President of the Republic’s exercise of powers under the Imposition of Restrictions Act, 2020 (Act 1012) to impose a restriction on movement of persons, the Securities and Exchange Commission (SEC) issues this Notice to Market Operators and Investors in the Securities Industry:
- Market operators in areas not affected by the partial lockdown are to operate during working hours.
- All Market operators in areas affected by the restriction on movement of persons are to operate using a minimum number of staff to meet the needs of their customers as well as recourse to electronic means to communicate with clients and facilitate transactions including securities trading, settlement, client investments and redemptions.
- All market operators are reminded to adhere to SEC’s Notice on Covid 19 issued on 20th March, 2020.
- Submission of reports should continue to the email addresses provided below: TYPE OF LICENSE HOLDER/ MARKET ACTIVITY EMAIL ADDRESS Fund Management Companies including Custodians, Trustees funds@sec.gov.gh Broker-Dealers/ Investment Advisors brokerdealers@sec.gov.gh NOTICE TO CAPITAL MARKET OPERATORS AND THE GENERAL PUBLIC: RESTRICTION ON MOVEMENT OF PERSONS (NOTICE NO. SEC/PN/003/03/2020) NOTICE NO. SEC/CIR/001/03/2020
Market Infrastructure Providers - (Ghana Stock Exchange, Ghana Commodities Exchange, Central Securities Depository and Registrars) exmarkets@sec.gov.gh Anti-Money Laundering Reporting Officers (AML/CFT) auditrisk@sec.gov.gh Listed Companies/ Issuers of Securities issuers@sec.gov.gh For further information and filing of complaints, please contact us on our website www.sec.gov.gh/ email: info@sec.gov.gh / Telephone: 0800100065 BY ORDER OF SECURITIES AND EXCHANGE COMMISSION DATED THE 29th MARCH, 2020