Regulatory Alerts2022-02-19
Securities Industry (Nominee) Guidelines 2020
The Securities and Exchange Commission issued these 2020 guidelines to regulate licensed nominees in Ghana, mandating specific capital and director residency criteria for corporate applicants. The framework requires nominees to secure written client consent, maintain seven-year KYC records, segregate client securities from corporate assets, and shield beneficial owners during insolvency proceedings. Nominees must fulfill quarterly and annual reporting duties, protect client privacy while disclosing data to the regulator upon request, and face license suspension or financial penalties for non-compliance.
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