General News of Saturday, 9 November 2019Source: citinewsroom.comFull list of 53 Fund Management companies whose licenses have been revokedDirector-General of the Securities and Exchange Commission, Daniel Ogbarmey TettehThe Securities and Exchange Commission (SEC) on Friday, November 8, 2019 revoked the licenses of 53 Fund Management Companies. According to the SEC, the revocations were done pursuant to Section 122 (2) (b) of the Securities Industry Act, 2019 (Act 929) which authorizes SEC to revoke the license of a market operator under some circumstances. SEC, in a statement explained that the revocation follows the companies’ failure to “return client funds which remain locked up and in a number of cases, have even folded up their operations.”Here is the full list of the affected institutions;All-Time Capital Partners LimitedAlpha Cap Securities LimitedAxe Capital Advisors LimitedApex Capital Partners RevokedBeige Capital Limited RevokedBrooks Asset Management LimitedCambridge Capital Advisors LimitedCanal Capital Limited RevokedCorporate Hills Investment Ltd.Dowjays Investment LimitedEM Capital Limited RevokedEnergy Investments LimitedFromfrom Capital LimitedFrontline Capital Advisors LimitedFirstBanc Financial Services LimitedGalaxy Capital LimitedGold Coast Fund Management LimitedGold Rock Capital Management LimitedGoldstreet Fund Management LimitedGlobal Investments Bankers LimitedHeritage Securities LimitedIdeal Capital Partners LimitedIntegrity Fund Management LimitedIntermarket Asset Management LtdKripa Capital Ltd.Kron Capital LimitedLegacy Financial ServicesLiberty Asset Management LimitedKamag Kapital LimitedMak Asset Management LimitedMan Capital Partners LimitedMec-Ellis Investment(Ghana) LimitedMcOttley Capital LimitedMonarch Capital LimitedMutual Integrity Assets Management LimitedNesst Capital LimitedNickel Keynesbury LimitedNordea Capital LimitedOmega Capital LimitedProcap Finance Company LimitedQFS Securities LimitedSGL Royal Kapita LimitedSirius Capital LimitedStrategic Hedge Capital LimitedStandard Securities LimitedSupreme Trust Capital LimitedTikowrie Capital Ltd.Unisecurities LimitedUniversal Capital ManagementUltimate Trust Fund Management Ltd.Utrak Capital Management LimitedWealth Vision Financial Services LimitedWeston Capital LimitedVoluntary CessationHFC Capital Partners LimitedAttai Capital LimitedSerengeti Capital LimitedIndigo Investment Management LimitedVerit Investment Advisory Limited

Source: GhanaWeb November 09, 2019 01:28 UTC