Regulatory Alerts2022-08-09
Circular to Market Operators on Compliance with Securities Industry Advertisement Provisions
The Securities and Exchange Commission (SEC) has issued a circular directing all market operators to strictly comply with established legal provisions regulating advertisements within the securities industry. The directive specifically mandates adherence to Sections 144, 149, 150, and 151 of the Securities Industry Act 2016, Regulations 39 through 43 of the 2003 SEC Regulations, and Section 29 of the Conduct of Business Guidelines. Market operators may access the complete regulatory text and an annexed summary via the SEC website or by contacting the commission’s designated support lines for clarification.
The Securities and Exchange Commission (hereinafter referred to as “SEC”) is the statutory body mandated by the Securities Industry Act 2016 (Act 929) as amended to promote the orderly growth and development of an efficient, fair, and transparent securities market in which investors and the integrity of the market are protected.
This Circular is issued to all market operators as a reminder to strictly comply with provisions regulating placement of Advertisement in the Securities Industry, specifically:
Securities Industry Act, 2016 (Act 929): Sections 144, 149, 150 (1)(a)(b)(c), and 151.
Securities and Exchange Commission Regulations, 2003 (L.I. 1728): Regulations 39, 40, 41, 42 and 43.
Conduct of Business Guidelines: Section 29 under Part Six of the Guidelines.
The aforementioned provisions can be found in the respective documents on the SEC’s website: www.sec.gov.gh, under Laws and Regulations, or in the document labelled ‘Annex A’ attached to this Circular.
This Circular is issued pursuant to section 3(i)(m) and 208(c) of the Securities Industry Act, 2016 (Act 929) as amended.
Any requests for clarification on this Circular should be made through our toll-free line 0800100065 or main lines: 0302768970-2 for any clarification you may need.
Please click here to download the Circular. Also, download the Appendix highlighting all provisions regulating Advertisement in the Securities Industry.
ISSUED BY ORDER OF
THE SECURITIES & EXCHANGE COMMISSION (SEC)
DATED: AUGUST 9, 2022