Here’s a deadline for customers of defunct Fund Management Firms to submit claims

The Securities and Exchange Commission (SEC) has set a December 18, 2019 deadline for customers of the 53 defunct Fund Management Companies to submit their claims for validation.

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

A statement from the Commission said, “The SEC wishes to inform the general public that the submission of claims exercise which began Monday, 18th November 2019, is scheduled to end on Wednesday, 18th December 2019.”

The statement encouraged investors to go to the designated areas at the Consolidated Bank Ghana (CBG) branches with their valid ID cards, evidence of investment claims and completed forms.

“Copies of the forms will also be available at the designated CBG branches. Non-resident investors are required to issue notarized Power of Attorney to representatives for submissions to be made on their behalf.”

On November 8, 2019, the SEC revoked the licences of 53 Fund Management Companies (“FMCs”).

The regulator said the revocation is to protect the integrity of the securities market and investors.

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