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Ghana’s Securities and Exchange Commission revokes licenses of 5 investment companies

The Securities and Exchange Commission (SEC) has withdrawn the licenses of five investment companies.

Director General of the Securities and Exchange Commission, Daniel Ogbarmey Tetteh

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

The regulator indicated people who do business with these companies do this on their own risk.

SEC revoked their licenses pursuant to Section 122 of the Securities Industry Act, 2016 (Act 929).

By this action, it means that the companies are not mandated to carry out any Fund Management activities.

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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 Securities and Exchange Commission 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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