Business News of Sunday, 13 December 2020Source: www.ghanaweb.comRemain compliant, learn from clean-up exercise – SEC to credit unionsDaniel Ogbarmey Tetteh, Director-General of SECDirector-General of the Securities and Exchange Commission (SEC), Daniel Ogbarmey Tetteh, has admonished credit unions to remain compliant and pick-up lessons from the financial sector clean-up exercise. According to him, this would enable credit unions operating in the country to avoid falling prey to a reoccurrence of the clean-up exercise that affected various financial institutions. Speaking at the biennial conference of the Ghana Co-operative Credit Unions Association (CUA), the Director-General of SEC explained, “a regulated activity means compliance with standard, rules, and procedures. I want to suggest that you must be big on compliance as it is germane to the success of financial institutions. Government through the SEC in November this year announced a partial bailout intervention scheme to bring relief to affected clients of Fund Management Companies (FMCs).

Source: GhanaWeb December 13, 2020 08:26 UTC