Regulatory Alerts2021-01-01
Securities Industry (Amendment) Act, 2021
The Parliament of Ghana enacted the Securities Industry (Amendment) Act, 2021 to empower the Securities Commission with expanded investigative and penalty authorities under its principal 2016 legislation. The amendment clarifies the Commission’s mandate to conduct investigations while assisting domestic or foreign regulators and establishes a formal court procedure for processing assistance requests from overseas securities authorities. It further grants the Commission discretionary power to impose administrative penalties ranging from fifty to twenty thousand penalty units for regulatory breaches and introduces a voluntary compensation settlement mechanism subject to Attorney-General approval.
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