SEC revokes the licences of five investment companies

SEC revokes the licences of five investment companies

- SEC has revoked the licenses of five investment companies

- They are therefore not permitted to carry out any fund management activities in Ghana

- Their licenses were revoked in line with Section 122 of the Securities Industry Act, 2016 (Act 929)

The Securities and Exchanges Commission (SEC) has revoked the licenses of five investment companies.

The companies are Georgetown Capital Partners Ltd, Equity Capital Ltd, Index Analytics Ltd, DM Capital Ltd and Oxygen Advisory Ltd.

SEC has also announced that anyone who transacts business with any of the investment companies does so at his or her own risk.

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Per a report by Myjoyonline.com, SEC revoked their licenses pursuant to Section 122 of the Securities Industry Act, 2016 (Act 929).

The companies are therefore not mandated to carry out any fund management activities, SEC added.

“The Commission hereby assures all investors, market operators and the general public that it is committed to ensuring rigorous enforcement of all the rules for operators in the capital market as spelt out in its core mandate,” it said in a statement.

The SEC is the statutory body mandated by the Securities Industry Act to promote the orderly growth and development of an efficient, fair and transparent securities market in which investors and the integrity of the market are protected.

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Source: Yen

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