Ghana’s Security and Exchange Commission (SEC) has revoked the licenses of five fund management companies with immediate effect, local media reported on Monday.
The Daily Graphic named the affected companies as Capital Partners Limited, Equity Capital Limited, Index Analytics Limited, DM Capital Limited and Oxygen Advisory Limited.
A statement on SEC’s website confirmed the revocation of the licences but stopped short of giving reasons for the move.
However, it emphasises that the companies had breached some provisions.
“The Commission wishes to inform the general public that anyone who engages in any transaction with any of these companies or their representatives, in their capacity as Fund Managers, could be exposing him/herself to avoidable risk,” the statement warned.
DAP/as/APA