General News of Friday, 8 November 2019Source: Citinewsroom.comSEC revokes licenses of Unisecurities, 52 other Fund Management companiesFile PhotoThe Securities and Exchange Commission (SEC) has revoked the licenses of 53 Fund Management Companies. The action was taken 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 also explained that the revocation is “in accordance with its mandate of protecting investors and the integrity of the capital market.”SEC and its authorized agents will secure the premises of the affected companies for further investigations under section 26 of the Act. In addition, the SEC has notified the Registrar of Companies of the revocation of these licenses and has requested that the Registrar petitions the High Court to commence winding-up proceedings against these companies under the Bodies Corporate (Official Liquidations) Act, 1963 (Act 180),” the statement added. Below is the list of the affected companiesAll-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 08, 2019 18:46 UTC