The primary function of the Broker-dealers and Advisors Department is the supervision and surveillance of the operations of the Broker-Dealers, Investment Advisors, Primary Dealers, and Issuing House, among others. The objective of such surveillance is to ensure that the integrity of the market is preserved, the solvency of license holders is maintained, ensure that systemic risk is minimized, discourage market abuses and manipulations, protect investors, and ensure that early warning is sounded in the event of any threat to the integrity of the market.
The Exchanges and Markets Department is responsible for ensuring fair, efficient, and transparent trading in securities on Ghana’s capital market. In particular, it supervises the secondary market and all its participants, which is exchanges, depositories, and registrars.
The Funds Management Department is responsible for all fund management companies that take funds for the purposes of management, the operations of custodians and trustees of Collective Investment Schemes and pension funds.
The Issuers Department oversees all activities involved in the issuance of new securities, from the initial application to post-offer activities. A major component of this involves monitoring the disclosure of material information to the investing public by issuers of listed securities. The department’s review process extends to ascertain if disclosures made by issuers conform to the disclosure requirements and standards imposed by law.
SUPPORT DEPARTMENTS & UNITS
The Communications and External Affairs Unit is responsible for developing and implementing holistic communications programs aimed at positioning the SEC as a top-tier securities market regulator in Africa.
The Communications and External Affairs Unit also provides information and education on the securities market to the SEC’s stakeholders including but not limited to investing and the general public, market operators, media, peer regulators, partners, and others.
Furthermore, the Unit is also responsible for maintaining sustainable and mutually beneficial relations in the furtherance of the SEC’s mandate.
The Finance and Capital Department is generally responsible for the financial administration and management of the finances and funds of the Commission.
The Human Resources and Administration Department is responsible for ensuring the smooth functioning and the provision and maintenance of the appropriate support services to all departments of the SEC.
The Department is also responsible for the continuous capacity building and motivation of employees of the SEC.
The Information Technology Unit is responsible for supporting the SEC and its staff in all aspects of Information Technology including IT Server Management, Network Management, Database Management, IT Security Management, Visualization Solutions, Application Development and others.
The Internal Audit Unit is responsible for evaluating the adequacy of accounting, financial, operating procedures, and internal controls of the SEC and its regulated entities to ensure their compliance with policies and applicable regulations.
The International Relations Unit is the arm of the SEC that links the SEC to the global capital market and maintains its relationship with other Securities Regulators, the global standard setter in securities regulations; the International Organization of Securities Commissions (IOSCO) and other international regulatory bodies. The Secretary of the SEC oversees this Unit and provides secretarial services to the SEC and the Board of the SEC. The Board Secretary is also the Information Officer of the SEC.
The Legal and Enforcement Department provides general legal advice to the Commission and investigates breaches of the Securities Laws. It is the primary department through which the Commission carries out its role as regulator, charged with the implementation of the Law.
The Policy Research Department is responsible for advising the SEC and its staff on all policy issues associated with the SEC’s regulatory and market development activities, formulating, and implementing the market development, and in collaboration with other departments and units, implement investor education for the SEC.
The Risk Management Department is responsible for the overall risk assessment, identification, and management of both the SEC and the capital market as well as all matters pertaining to enforcement of the anti-money laundering and anti-terrorist financing laws and regulations governing the securities industry. The department is also responsible for investigations of infractions against the Securities Industry Law, Rules and Regulations and handling of complaints lodged with the SEC.