General News of Tuesday, 12 November 2019Source: 3news.comDirectors of collapsed investment firms to face prosecution for criminalityDeputy Director of SEC, Paul AbabioDirectors and managers of the now-defunct fund management companies, whose negligence and inactions caused the collapse of the firms, are to face prosecution. According to the Securities and Exchange Commission (SEC), it has already gathered evidence against some directors and will push for a docket to be built and forwarded to the Attorney General for prosecution. “We will push to prepare docket to the Attorney General to have them prosecuted. According to him, SEC will apply to the Registrar General for the affected firms to be liquidated, now that the regulatory processes have been concluded. The Registrar General, he said, will have to make a determination on the status of these firms after which a court action will be sought to finalise the liquidation processes.

Source: GhanaWeb November 12, 2019 01:37 UTC