Business News of Monday, 15 April 2019Source: SECSEC reviewing Gold Coast proposal for replacing Structured Finance productGCFM is hoping to raise long term capital to buy its bonds back from customersThe Securities and Exchange Commission (SEC), says it has received and is reviewing proposals from Gold Coast Fund Management (GCFM) to replace its Structured Finance (SF) product. The SEC believes this proposal from Gold Coast Fund Management will help the company meet all its payment obligations to its customers and investors. The company hopes that the approval of its Cardinal Fund will provide a roadmap for other struggling fund management companies seeking solutions to their liquidity challenges. Gold Coast Fund Management has recently gone public with efforts it is making to redeem its investments with government contractors and placements with other financial houses. The SEC stated that the company is free to continue to make payments to meet the needs of its customers in the meantime.

Source: GhanaWeb April 15, 2019 18:56 UTC