Regulatory Alerts2020-08-06
Speech by Rev. Daniel Ogbarmey Tetteh on Ghana's Financial Crisis and Regulatory Reforms
Rev. Daniel Ogbarmey Tetteh, Director-General of the Securities and Exchange Commission of Ghana, addressed the GIMPA Law Conference 2020 regarding the banking and financial crisis and subsequent reforms. The Commission revoked the licenses of 53 fund management companies due to severe structural, conduct, governance, and regulatory failures, affecting over 77,000 investors and GHC8.08 billion in assets. To restore market confidence and prevent future crises, the regulator is implementing new licensing guidelines, conduct codes, and investor education initiatives while accelerating digital transformation and risk-based supervision.
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