Regulatory Alerts2020-11-15
Securities Industry (Nominee) Guidelines 2020
The Securities and Exchange Commission of Ghana issued these guidelines to regulate all licensed nominees operating securities accounts on behalf of clients. The document mandates strict licensing criteria, including minimum capital and local director residency, while requiring nominees to implement robust know-your-client procedures, segregate client assets, and protect beneficial owners from insolvency risks. Furthermore, it establishes comprehensive operational standards for record-keeping, voting rights, data privacy, quarterly reporting, and outlines enforcement measures and penalties for non-compliance.
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