Regulatory Alerts2015-03-31
Application for Mutual Fund Schemes
The Securities and Exchange Commission of Ghana mandates that applications for mutual fund licenses, including renewals, must be submitted directly by the company’s directors rather than appointed fund managers. This directive, effective immediately under Section 36A(1) of the Securities Industry (Amendment) Act, 2000, corrects prior practice where fund managers filed applications on behalf of the companies. Licensed operators are required to comply with this procedural requirement for all new and renewed mutual fund scheme licenses.
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