Regulatory Alerts2023-01-18
Public Notice on Capital Market Operations by Zenith Bank Ghana Limited
The Securities and Exchange Commission of Ghana issued this notice to correct public misinformation regarding Zenith Bank Ghana Limited’s capital market activities. The regulator clarifies that although the bank voluntarily ceased its trustee services for Unit Trust Schemes in 2022, it maintains a valid custodian license and remains an active, compliant participant in the Ghanaian securities market. This statement directly addresses misinterpretations of a prior January 2023 directive and reaffirms the institution’s ongoing regulatory standing.
“Ensuring Investor Protection” SECURITIES AND EXCHANGE COMMISSION, GHANA
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 by the Securities Industry (Amendment) Act 2021, Act 1062 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. The attention of the SEC has been drawn to various messages being disseminated among the general and investing public misinterpreting the Public Notice titled PUBLIC NOTICE ON VOLUNTARY CESSATION OF TRUSTEE SERVICES BY ZENITH BANK GHANA LIMITED (SEC/PN/001/01/2023), issued by the SEC on Wednesday, 18th January 2023. The SEC is hereby issuing this Public Notice to clarify that, as stated in the Public Notice referenced above, Zenith Bank Ghana Limited voluntarily requested to cease operations as a Trustee. Although Zenith Bank Ghana Limited voluntarily ceased its Trustee services for Unit Trust Schemes in 2022, the Bank continues to hold a Custodian license issued by the SEC under the Securities Industry Act, 2016 (Act 929) and remains an active operator in the Ghanaian Securities market and banking industry. For more information, please call us at 0302768970, the toll-free line 0800100065 or by email at info@sec.gov.gh. This Notice is issued pursuant to Sections 3(b) (f) (m) and 208 (c) of the Securities Industry Act, 2016 (Act 929). ISSUED BY ORDER OF THE SECURITIES & EXCHANGE COMMISSION (SEC) DATED: 18/01/2023 PUBLIC NOTICE ON CAPITAL MARKET OPERATIONS BY ZENITH BANK GHANA LIMITED (NOTICE NO. SEC/PN/002/01/2023)