Mr. Adongo argues that SEC’s mandate ends after the revocation of the licenses of the fund management companies. Speaking at a public forum on the 2020 budget, the Bolgatanga Central MP said there is no money to pay the affected investors. SEC had explained on Tuesday that the two-days delay was caused by logistical constraints, and that validation was to start nationwide on Wednesday. Revocation and validationWeeks ago, the Securities and Exchange Commission (SEC) revoked the licenses of 53 Fund Management Companies. A list of firms whose licenses have not been revoked can be found on the SEC website (www.sec.gov.gh)”.

Source: GhanaWeb November 21, 2019 06:45 UTC