Securities and Exchange Commission Archives

24 Sep

Locked-Up Funds: First Tranche Of GHS 700m To Be Disbursed By End Of Month

wontumionlineBusinessSecurities and Exchange Commission

Customers set to benefit from the government’s bailout package for investors of locked-up funds will have their accounts credited soon. This follows the conclusion of engagements between GCB Capital as the lead fund manager and the investors over the road map for the first tranche of payments. The finalisation of the terms means the funds are expected to be received by the end of September. The investor engagement held last week was to bring investors up to speed after the government announced the release of GHS 700 million as the first tranche of the GHS 1.5 billion bailout package. Citi…

21 Jul

Capital Market To See Greater Transparency – SEC

wontumionlineBusinessDaniel Ogbarmey Tetteh, Securities and Exchange Commission

The Securities and Exchange Commission (SEC) is set to introduce a new programme aimed at providing the investing public with increased transparency concerning capital market operations, its Director-General Daniel Ogbarmey Tetteh has hinted. Speaking on the side-lines of the opening ceremony of a two-day capacity building and sensitisation workshop on Phase 2 of the West African Capital Market Integration (WACMI) project in Accra, he stated that the initiative forms part of the regulator’s ongoing efforts to empower investors and ensure they make informed decisions. “We will in the coming weeks launch a programme we have designed to give the investing…

31 Mar

GH¢5.5bn Approved By Parliament Not Only For Blackshield Customers – SEC

wontumionlineBusinessBlackshield Fund Management, Securities and Exchange Commission

The Securities and Exchange Commission (SEC) has rejected claims that the GH¢5.5 billion approved by Parliament in 2021 to settle owed customers of defunct fund management companies is only for Defunct Gold Coast Management, now Blackshield customers. According to the SEC, the approved funds are for all investors in the 47 fund management companies that were closed down by the regulator. The clarification follows comments from some Blackshield Fund Management clients who suggested that the funds should only be distributed to fund investors. “The update received by the SEC from the implementing agencies of the Bailout is that so far,…

16 Nov

Mark-To-Market: Your Investments Are Safe – SEC Assures

wontumionlineBusinessSEC, Securities and Exchange Commission

The Securities and Exchange Commission (SEC) has moved to assure investors in the fixed-income segment of the market of their holdings’ safety, following agitation over its directive for fund managers to adopt the Fair Value through Other Comprehensive Income, or mark-to-market valuation approach of portfolios. The move, the securities industry regulator says, seeks the protection of all classes of investors and the market’s integrity by ensuring “a fair and transparent playing field so that both investors and operators are protected”. In a recent media interaction, Director-General of the SEC, Daniel Ogbarmey Tetteh, explained that fund managers have witnessed a sharp…