Business News of Sunday, 10 November 2019Source: Myjoyonline.comClaims validation for customers of closed investment firms begins next weekplay videoPaul Ababio, Deputy General-Secretary of the SECThe Securities and Exchange Commission (SEC) has said it will next week begin a claims validation process for investors of fund managers whose licences were revoked on Friday. “From next week, we will begin a validation process and we will allow investors [to show proof of investments]…we will make announcements and allow people timelines and when they can file their claims. 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. All time Capital Limited, Apex Capital Partners, Axe Capital Limited (Formerly United Asset Management, Intermarket Asset Management Limited (formerly CDH Asset Management) and Blackshield Capital Management (formerly Gold Coast Fund Management) are among 32 operating firms whose licences have been revoked. Speaking on the unprecedented decision, Mr Ababio said the SEC will make available resources for customers of the defunct managers once the validation process progresses.

Source: GhanaWeb November 10, 2019 00:09 UTC