The Bank of Ghana (BoG) has cautioned the public about an impending launch of a cryptocurrency named “Freedom Coin” in Ghana. “It has come to the attention of Bank of Ghana that there is an impending launch of a cryptocurrency named “Freedom Coin,” the bank said. In line with notice NO.BG/GOV/SEC/2018/02 issued on 22nd January […]
The Securities and Exchange Commission (SEC) has warned the public to abstain from engaging in any capital market activity with Chy Century Heng Yue Group Limited and Sairuir-Commerce Ghana Limited. According to SEC, the two entities have not been licensed to invest or trade for returns as mandated by Section 3 of the Securities Industry […]
The Securities and Exchange Commission (SEC) will in the coming days restore the licenses of some fund management companies whose licenses were revoked in 2019. The Chief Executive Officer of the SEC, Rev. Daniel Ogbamey Tetteh made this known in a radio interview on Accra based Citi FM Tuesday morning. In the radio interview with Citi […]
Aggrieved customers of MenzGold who have been chasing the folded up company for their locked up investments are calling on government to take responsibility of the crisis and pay them their money. The customers who say there is no difference between them and other customers of shut-down financial institutions hence there is the need for […]
The Securities and Exchange Commission (SEC) will begin accepting relevant documents for the validation of investment claims on November 18, 2019, following the revocation of the licenses of 53 Fund Management Companies. In a statement, the SEC said designated branches of Consolidated Bank of Ghana Limited (CBG) will open to receive the claims from clients who have their […]
The Securities and Exchange Commission (SEC) has distanced the recent revocation of the licenses of the 53 fund management companies from the banking sector shake-up stating that the latter is not responsible for the current happenings in the securities sector. According to SEC, although some collapsed fund managers had their funds locked up in savings […]
The Ghana Securities Industry Association (GSIA) wants the Securities and Exchanges Commission to be clear on the processes put in place for customers who invested their monies in the 53 fund management companies whose licenses had been revoked to retrieve their investments. This, the Associations says, will help minimise the adverse impacts of low investor […]
The 53 fund management companies that had their licenses revoked by the Securities and Exchange Commission (SEC) were managing customers’ funds which run in excess of GH¢8 billion, Citi Business News’ sources say. The source close to the regulator said the affected companies were managing funds belonging to some 56,000 customers who had invested in […]
The Securities and Exchange Commission (SEC) has cautioned investors against panic withdrawals, following the recent reforms in the financial sector. “We are aware of some level of anxiety among a section of investors because of the recent reforms taking place within the financial system. We wish to reiterate that the objective is to produce sound […]
A former security guard at the State Enterprise Commission (SEC) has been jailed two years by an Accra Circuit Court for threatening to kill the Executive Chairman of the Commission, Mr Stephen Asamoah Boateng. The convict, Arafat Issah, pleaded guilty to one count of threat of death and was accordingly sentenced on his own plea. […]
The Securities and Exchange Commission (SEC) has denied media reports suggesting the closure of some micro finance institutions in the country. A tall list of companies circulating on social suggests the companies have been earmarked for closure by the SEC and the information alleged had come from its website. But in a rebuttal, the SEC […]
Distressed gold trading firm, Menzgold says government’s position on its predicament vindicates the company’s long held position that it was not under the Securities and Exchange Commission or the Bank of Ghana and therefore could not be sanctioned by the two state entities. In a statement cataloguing its position on the Menzgold matter yesterday, government […]
