Fall of 53: SEC to publish details of validation process by Monday

The Securities and Exchange Commission (SEC) has said by close of Monday, November 11, 2019, it will provide further details about a validation process and designated places where investors of collapsed Securities and Fund management companies can present their claims to be validated.

“In the interim we urge all investors to remain calm, gather all receipts, statements and any other documentation related to their investment with the affected institutions. There is also no need for any panic withdrawals on the firms whose licences are intact and not on the revocation list. A list of firms whose licences have not been revoked can be found on the SEC website (www.sec.gov.gh).” SEC said on its website.

Meanwhile, it said persons whose actions and inactions led to the collapse of Fund Management Companies in the country would be handed a five (5) year ban from operating in the Capital Market.

The Commission said the indicted persons could include past officers and shareholders of the affected companies.

Below is the list of companies whose licenses have been revoked

All-Time Capital Partners Limited

Alpha Cap Securities Limited

Axe Capital Advisors Limited

Apex Capital Partners Revoked

Beige Capital Limited Revoked

Brooks Asset Management Limited

Cambridge Capital Advisors Limited

Canal Capital Limited Revoked

Corporate Hills Investment Ltd.

Dowjays Investment Limited

EM Capital Limited Revoked

Energy Investments Limited

Fromfrom Capital Limited

Frontline Capital Advisors Limited

FirstBanc Financial Services Limited

Galaxy Capital Limited

Gold Coast Fund Management Limited

Gold Rock Capital Management Limited

Goldstreet Fund Management Limited

Global Investments Bankers Limited

Heritage Securities Limited

Ideal Capital Partners Limited

Integrity Fund Management Limited

Intermarket Asset Management Ltd

Kripa Capital Ltd.

Kron Capital Limited

Legacy Financial Services

Liberty Asset Management Limited

Kamag Kapital Limited

Mak Asset Management Limited

Man Capital Partners Limited

Mec-Ellis Investment(Ghana) Limited

McOttley Capital Limited

Monarch Capital Limited

Mutual Integrity Assets Management Limited

Nesst Capital Limited

Nickel Keynesbury Limited

Nordea Capital Limited

Omega Capital Limited

Procap Finance Company Limited

QFS Securities Limited

SGL Royal Kapita Limited

Sirius Capital Limited

Strategic Hedge Capital Limited

Standard Securities Limited

Supreme Trust Capital Limited

Tikowrie Capital Ltd.

Unisecurities Limited

Universal Capital Management

Ultimate Trust Fund Management Ltd.

Utrak Capital Management Limited

Wealth Vision Financial Services Limited

Weston Capital Limited

Pedestrians walk in front of Ghana’s central bank building in Accra, Ghana, November 16, 2015. Ghana’s central bank kept its benchmark policy rate at 26 percent on January 25, 2016 citing moderation in the pace of consumer inflation, its governor Henry Kofi Wampah said. Picture taken November 16, 2015. REUTERS/Francis Kokoroko