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Ghana’s Capital Market Regulator Investigates 10 Fund Managers

Rev Daniel Ogbarmey Tetteh, Director General of SEC, Ghana

Accra, Ghana, May 12, 2018//-The Securities & Exchange Commission (SEC), Ghana’s capital market regulator has commenced investigations into the activities of 10 licenced fund managers in the country.

The 10 fund managers, according to a notice issued by the SEC in Accra are under investigations for numerous pending complaints leveled against them by the investing public bordering on the violation of provisions of the Securities Industry Act, 2016 (Act 929).

The 10 fund managers which are under investigations are: MEC-Ellis Investment Ghana Ltd; Weston Capital Ltd; Brooks Asset Management; Kamang Kapital Ghana Ltd (formerly Lifeline Asset Management Ltd); MAK Asset Management Ltd; EM Capital Partners Ltd; MET Capital Group Ltd; Canal Capital Ltd; Man Capital Partners Ltd; and Alpha Cap Securities Ltd.

The notice said: “The Commission therefore wishes to inform the general public that anyone who engages in any transaction with any of these companies, could be exposing him/herself to avoidable risk”.

It added: “Investigations are ongoing and the public shall be given further notice in due”.

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