The Securities and Exchange Commission (SEC) of Ghana has announced, in pursuant to Sections 3(b) (f) (m) and 208 (c) of the Securities Industry Act, 2016 (Act 929) that six fund managers have voluntarily decided to cease operation…
The Securities and Exchange Commission (SEC) of Ghana has announced, in
pursuant to Sections 3(b) (f) (m) and 208 (c) of the Securities Industry
Act, 2016 (Act 929) that six fund managers have voluntarily decided to
cease operation.
In a statement issued on Tuesday, 29 January
2019, the Commission said it wishes to bring to the notice of the
general public that the under listed licensed operators engaged in fund
management activities in the capital market (fund managers), have
voluntarily requested to cease operation for various reasons.
They include HFC Capital Partners Limited,
Attai Capital Limited, Serengeti Capital Limited, Indigo Investment
Management Limited, Verit Investment Advisory Limited and Waxson
Investment and Pension Management Limited.
The Commission said it has, after a thorough assessment of the circumstances, approved their requests.
The six companies are, therefore, not mandated to carry out any fund management activities.
Consequently, the Commission has warned the
general public that “anyone who engages in any transaction with any of
these companies or their representatives, in their capacity as Fund
Managers could be exposing him/herself to avoidable risk”.
“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 in order to promote the growth and development of an
efficient, fair and transparent securities market in which investors and
the integrity of the market are protected”, the SEC said.
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