Pursuant to Section 122 (2) of the Securities Industry Act, 2016 (Act 929), the Securities and Exchange Commission (SEC) on 8th November 2019 revoked the licences of 53 Fund Management Companies (“FMCs”). Following the revocation of the licences of these firms, SEC has, in accordance with Section 26 of Act 929, appointed an Agent to support in the closing down, securing the premises and records of these institutions. The Agent is also authorised to ascertain and validate details of investors and their investments with these institutions at the time of the revocation to facilitate the administration of the Government pay-out of a capped amount to affected investors.
The SEC wishes to inform the general public that effective Monday, 18th November, 2019, the branches of Consolidated Bank of Ghana Limited (CBG) designated in Appendix ‘A’ will open to receive from clients of the affected FMCs, evidence of investment claims such as investment certificates, account statements, receipts and other relevant documentation for validation.
Please note that the offices of the affected FMCs will remain closed until further notice. We will issue further notice on commencement of payment to investors whose claims have been validated.
Investors are advised to visit the designated CBG branches assigned to the affected FMCs for validation of investments made and any other enquiries relating to the revocation of their affected FMCs. A mapped branch network of CBG branches to the offices of the affected Fund Management companies can be found in the Appendix A.
Please note that the working hours for the CBG branches are from 8:30am to 4:30pm, Mondays to Fridays.
Investors may send an email to the Agent at email@example.com or call the following numbers for any clarification:
0302960197 / 8/ 9
0302960208 / 9 /10
0302960023 / 4
0302953518 / 9
Click to download the full Public Notice
PUBLIC NOTICE ON VALIDATION OF INVESTMENT CLAIMS AGAINST THE 53 FUND MANAGEMENT COMPANIES WHOSE LICENCES HAVE BEEN REVOKED
Last modified: November 15, 2019