The Securities and Exchange Commission (SEC) has revoked the operating licences of 53 investment companies in the country.
The revocation of the licences, according to the regulator, is to protect the integrity of the securities market and investors.
At a stakeholder meeting Friday, November 8, 2019 before releasing a list of the affected companies, the Director-General of the SEC, Rev. Daniel Ogbarmey Tetteh, said troubled securities firms that have still not been able to address concerns raised about their operations over the years are among those affected by the action.
(a) If it is wound up;
(b) It ceases to carry on the business for which it was licensed;
(c) If the Commission has reason to believe that the licensed body or any of its directors or employees has not performed its functions or the functions of directors efficiently, honestly and fairly;