Regulatory Alerts2003-01-01
Report of Compliance Officers – Regulation 25-7bc
The Securities & Exchange Commission mandates that all licensed Broker-Dealers and Investment Advisers appoint a designated Compliance Officer to submit quarterly written reports on regulatory compliance. Effective from the third quarter of 2004, these reports must be filed within fifteen days following each reporting period and are subject to a five million cedi penalty or license restrictions for non-compliance. This directive reinforces existing guidelines under Regulation 25 and the Commission’s Compliance Manual to ensure consistent oversight of industry standards.
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