Regulatory Alerts2024-06-24
Deadline for Submission of Claims for Partial and Full Bailout
The Securities and Exchange Commission of Ghana has established July 9, 2024, as the final deadline for investors affected by the November 2019 revocation of Fund Management Company licenses to submit validated claims for a government bailout. Eligible customers must complete the attached claim form and email it to the SEC-appointed agent, PricewaterhouseCoopers (Ghana) LTD, to qualify for the voluntary bailout package. This directive, issued under the Securities Industry Act, aims to expedite investor compensation and maintain the integrity of the national capital market.
Page 1 of 2 Ensuring Investor Protection SECURITIES AND EXCHANGE COMMISSION The Securities and Exchange Commission (SEC) is the statutory body set up by the Securities Industry Act, 2016 (Act 929), as amended by the Securities Industry (Amendment) 2021 (Act 1062), with the object of regulating, innovating, and promoting the growth and development of an efficient, fair, and transparent securities market in which investors and the integrity of the market are protected. The SEC wishes to inform all customers of Fund Management Companies (FMCs) affected by the revocation of licenses exercise in November 2019 that the deadline for submission of claims for validation is Tuesday, 9th July 2024. To be eligible for the voluntary bailout package offered by the Government, affected customers must have validated claims and must have accepted the Government-sponsored bailout package. The SEC urges all eligible customers to submit their claims via the email address below to ensure that they receive the Government bailout based on their validated claims. A copy of the claim submission form is attached to this notice. For further information and assistance with the claims submission process, please contact the sole SECappointed agent, PricewaterhouseCoopers (Ghana) LTD (“PwC”), via email at gh_fundmanagers@pwc.com or by phone at +233 (0) 242 439 453. The SEC remains committed to protecting the interests of investors and ensuring the stability and integrity of the Ghanaian capital market. This Notice is issued pursuant to sections 3(i)(m) and 208(c) of the Securities Industry Act, 2016 (Act 929) as amended. ISSUED BY ORDER OF THE SECURITIES AND EXCHANGE COMMISSION (SEC) DATED: JUNE 24, 2024 PUBLIC NOTICE DEADLINE FOR SUBMISSION OF CLAIMS FOR GOVERNMENT BAILOUT (NOTICE NO. SEC/PN/002/06/2024)
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