Regulatory Alerts2019-11-08
Notice of Revocation of Licences of 53 Fund Management Companies by the Securities and Exchange Commission of Ghana
The Securities and Exchange Commission of Ghana has revoked the licences of 53 fund management companies due to severe regulatory breaches, including the failure to return client funds and mismanagement of assets. The regulator has notified the Registrar of Companies to initiate winding-up proceedings and secured the premises of affected firms for further investigation under the Securities Industry Act. Affected investors are urged to gather documentation for claim validation, with details on the process to be provided by November 11, 2019, while the government commits to providing capped relief to those impacted.
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