Regulatory Alerts2025-01-01
Securities Industry (Underwriter) Guidelines 2025
The Securities and Exchange Commission of Ghana issued the 2025 Underwriter Guidelines to establish comprehensive licensing, registration, and operational standards for broker-dealers, issuing houses, and independent underwriters. Market operators must secure SEC approval by meeting minimum capital thresholds, executing registered underwriting agreements with specified terms, and maintaining strict disclosure, conflict-of-interest, and anti-money laundering protocols. The framework mandates rigorous record-keeping, independent due diligence, and timely subscription to unsubscribed securities, while empowering the SEC to impose administrative penalties or criminal settlements for non-compliance.
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