Regulatory Alerts2022-11-04
Directive on Mark-to-Market Valuation of Client Investment Assets and Portfolios in the Securities Sector
The Securities and Exchange Commission of Ghana mandates all fund managers, custodians, and trustees of collective investment schemes to adopt the Fair Value through Other Comprehensive Income (FVOCI) mark-to-market valuation method for client portfolios. Market operators must source pricing from the Ghana Stock Exchange and Ghana Fixed Income Market, charge management fees exclusively on mark-to-market valuations, and amend scheme particulars to align with International Financial Reporting Standards. Entities unable to implement FVOCI must justify their alternative business models within one month, compute parallel valuations to track errors, and face regulatory sanctions for non-compliance with this immediately effective directive.
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