Ghana’s Securities and Exchange Company threaten to sanction recalcitrant operators

The Securities and Exchange Commission has warned operators under its jurisdiction that it will sanction companies that fail to adhere to regulations guiding the securities market.

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

According to the Director-General of the SEC, Daniel Ogbarmey Tetteh the ultimate sanction will be to revoke the licences of such companies.

He said this will be to deter other operators from repeating actions that may lead to the loss of funds or the collapse of some investment firms.

Mr Tetteh says revoking the licenses will be prudent to protect investments and rebuild confidence.

“There are consequences when there is a corporate failure so directors must be well advised. As a commission, we are at the point where we will begin to ban people from operating in the industry.”

“It’s not going to be only an issue of taking some kind of regulatory action or enforcement but just to protect the industry, we have to make sure that we are fit and proper,” he added.

The securities market is expected to have its round of reforms following a similar one in the banking sector.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Fired TV anchor now a Matatu tout in Nairobi [Video]

Fired TV anchor now a Matatu tout in Nairobi [Video]

King Kaka shares 11 sources of income earning him millions

King Kaka shares 11 sources of income earning him millions

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Referee behind chaos at AFCON was rushed to hospital after match

Referee behind chaos at AFCON was rushed to hospital after match

Zuchu forced to apologize to fans after viral video raised eyebrows

Zuchu forced to apologize to fans after viral video raised eyebrows

Willy Paul wins against Diana Marua in court

Willy Paul wins against Diana Marua in court

KDF moves to forcibly acquire Sh 500M supermarket land in Nairobi

KDF moves to forcibly acquire Sh 500M supermarket land in Nairobi

Guardian Angel weds Esther Musila in private wedding [Photos]

Guardian Angel weds Esther Musila in private wedding [Photos]

I'm not in the US - Eddie Ndichu's photos explained

I'm not in the US - Eddie Ndichu's photos explained