Daily Archives - June 13, 2016

Pay your clients – SEC to Asset Fund managers

The Securities and Exchange Commission (SEC) has assured the investing public that there is no need for “panic withdrawals” as it is committed to ensuring a sound, efficient and robust market where investors’ funds are protected. The SEC’s assurance follows the revocation of licences of 23 insolvent savings and loans companies and finance houses by the Bank of Ghana (BoG)...

BoG’s US$62.3m transfer claim ‘false’ – GN

Groupe Nduom, the parent company of GN Savings and Loans, whose licence was revoked recently by the Bank of Ghana, has refuted allegations by the central bank that it transferred some US$62.3 million of depositors’ funds to its subsidiaries abroad. In its explanation for the revocation of the licence, the regulator stated that: “A recent Bank of Ghana investigation conducted...