Use Ghana Card as ID in securities market – SEC –

The Securities and Exchange Commission (SEC) has asked all new investors and market operators to use the Ghana Card as the only identity card for all transactions in the Securities Market..

However, in the case of existing investors, the Ghana Card will be the sole identity card for all their transactions effective January 1, 2023..

SEC in a statement indicated that the directive was in compliance with Sections 2, 3, and 209 of the Securities Industry Act, 2016 (Act 929), and the National Identity Register Regulations, 2012 (L.I. 2111).

“This Directive is issued by the Securities and Exchange Commission (hereinafter referred to as the “SEC”) pursuant to sections 2, 3, and 209 of the Securities Industry Act, 2016 (Act 929), and the National Identity Register Regulations, 2012 (L.I. 2111) as amended, for the use of the Ecowas Identity Card (“Ghana Card”) as the only identity card for transactions in the Securities Market.

“The SEC hereby directs that, with immediate effect, the “Ghana Card” shall be the sole identity card for all new investors seeking to undertake any transaction in the Securities Market

In the case of existing investors, the “Ghana Card” shall be the sole identity card for all their transactions with Market Operators, effective 1st January 2023,” part of the statement read.

All Investors who were admitted into the Securities Market with identity cards other than the ‘Ghana Card’ are to present their “Ghana Cards” for the update of their KYC records with their respective Market Operators.

Source: Ghana Summary