Regulatory Alerts2019-11-26
Public Notice on Deadline for Submission of Investment Claims with Revoked Fund Management Companies
The Securities and Exchange Commission of Ghana has revoked the licenses of 53 Fund Management Companies and established a claims exercise for affected investors. The submission period for these investment claims is scheduled to run from November 18, 2019, to December 18, 2019. Investors are required to submit completed forms and evidence of claims at designated Commercial Bank of Ghana branches during specified working hours, with non-resident investors needing a notarized Power of Attorney.
Pursuant to Section 122 (2) of the Securities Industry Act, 2016 (Act 929), the Securities and Exchange Commission (SEC) on 8th November 2019 revoked the licences of 53 Fund Management Companies (“FMCs”).
The SEC wishes to inform the general public that the submission of claims exercise which began Monday, 18th November, 2019, is scheduled to end on Wednesday, 18th December, 2019.
To facilitate the process, the Commission has made available, a form at https://sec.gov.gh/claims_form.pdf for download and completion.
Investors are advised to visit the designated areas at the CBG branches with valid ID cards, evidence of investment claims and completed forms. Copies of the forms will also be available at the designated CBG branches.
Non-resident investors are required to issue notarised Power of Attorney to representatives for submissions to be made on their behalf. Only authorised agents in the designated areas are to receive documents from investors. No claims are to be submitted to CBG staff. Please note that the working hours for the CBG branches are from 8:30am to 4:30pm, Mondays to Fridays.
Investors may send email to the Agent at revocations@sec.gov.gh or call the following numbers for any clarification:
0302960197 / 8/ 9 0302960208 / 9 /10 0302960023 / 4 0302953518 / 9
BY ORDER OF
SECURITIES AND EXCHANGE COMMISSION
DATED THE 26TH NOVEMBER, 2019
Click Here to Download the Full Notice
PUBLIC NOTICE ON DEADLINE FOR ON-GOING SUBMISSION OF INVESTMENT CLAIMS WITH FUND MANAGEMENT COMPANIES WHOSE LICENCES HAVE BEEN REVOKED
CLAIMS FORM