Guidelines on Market Levies for 2020

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‘Ensuring Investor Protection’
THE SECURITIES AND EXCHANGE COMMISSION SEC/GUI/001/01/2020
1.0. Preamble
These Guidelines are issued by the Securities and Exchange Commission (hereinafter referred to as “the SEC”) pursuant to section 15 and 209 of the Securities Industry Act, 2016 (Act 929) for the payment of market levies.
2.0. Scope and Application
These guidelines shall be applicable to Fund Managers and other Market Operators for the financial year 2020.
3.0. Market Operators’ Levy
Market Operators Levy (GHS)
Stock Exchange 20,000
Commodity Exchange 10,000
Securities Depository 15,000
Primary Dealers 15,000
Custodians 15,000
Issuing Houses 15,000
Trustees 10,000
Fund Managers 5,000
GUIDELINES ON MARKET LEVIES FOR 2020

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Market Operators Levy (GHS)
Broker Dealers 3,000
Investment Advisors 3,000
Registrars 3,000
Commodities Warehouse Operators 2,000
3.1 Mode of payment
The Market Operator shall pay the required levy by the end of the first quarter of the year either in full or in a maximum of three installments.
4.0 Transaction levy
(1) The transaction levy shall be paid by the purchaser and seller of securities. (2) The transaction levy shall be charged on the purchase and sale as follows:
(a) For shares, 0.15% of the total transaction value; (b) For Bonds, the regulators’ commission of 0.01% of the nominalvalue of the trade shall be apportioned asfollows:
(i) Ghana Fixed Income Market, 50/100 of the 0.01%; (ii) Central Securities Depository Ltd., 30/100 of the 0.01%;and (iii) Securities4 and Exchange Commission, 20/100 of the0.01%.

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4.1 Mode of payment
The transaction levy shall be paid within ten working (10) days after the end of the month in which the transaction was effected.
5.0 Depository Levy
Securities issued and lodged in the depository shall attract a levy of 0.003% of the face value of the securities.
5.1 Mode of payment
The depository shall pay the required levy within fifteen working (15) days after the end of the month in which the transaction was effected.
6.0 Sanctions for non-payment of Market Levies
The SEC shall exercise its powers under section 209 (4) of the Securities Industry Act, 2016 (Act 929).
7.0 Revocation, Variation and Revision
The SEC may revise, amend, vary or revoke these guidelines.
8.0 Interpretation
Where any doubt arises about the meaning of any provision contained in these Guidelines, the same shall be referred to the SEC and the interpretation provided by the SEC shall be final
9.0 Effective date
These Guidelines shall be effective from the 28th day of February, 2020 ISSUED BY ORDER OF THE SECURITIES & EXCHANGE COMMISSION (SEC) Dated the 28th February, 2020