Pulse.com.gh logo
Go


Banking SEC investigating 10 investment banks over violations

A statement signed by the commission says they are under investigation for "numerous pending complaints levelled against them by the investing public bordering on violation of provisions of the Securities Industry Act, 2016 (Act 929)."

  • Published: , Refreshed:

The Securities and Exchange Commission has put 10 investment banks under investigation and has subsequently warned the public against dealing with them.

READ MORE: Thousands of Ghanaians lose millions to Savana Brokerage

A statement signed by the commission says they are under investigation for "numerous pending complaints levelled against them by the investing public bordering on violation of provisions of the Securities Industry Act, 2016 (Act 929)."

The are MEC-Ellis Investment Ghana Ltd, Weston Capital Ltd, Brooks Asset Management Ltd, Kamaag Kapital Gh. Ltd. (formerly Lifeline Asset Management Ltd.), MAK Asset Management Ltd, EM Capital Partners Ltd, MET Capital Group Ltd, Canal Capital Ltd, Man Capital Partners Ltd, Alpha Cap Securities Ltd.

"The Commission therefore wishes to inform the general public that anyone who engages in any transaction with any of these companies, could be exposing him/herself to avoidable risk," the statement said.

READ MORE: Minority mounts pressure on Finance minister to resign

"Investigations are ongoing and the public shall be given further notice in due course."

 

Below is the statement

This Notice is issued pursuant to Sections 3(b) (f) (m) and 208 (c) of the Securities Industry Act, 2016 (Act 929).

The Securities and Exchange Commission wishes to bring to the notice of the general public that the underlisted licensed operators engaged in fund management activities in the capital market (Fund Managers), are under investigation for numerous pending complaints levelled against them by the investing public bordering on violation of provisions of the Securities Industry Act, 2016 (Act 929):

 MEC-Ellis Investment Ghana Ltd.

 Weston Capital Ltd.

 Brooks Asset Management Ltd.

 Kamaag Kapital Gh. Ltd. (formerly Lifeline Asset Management Ltd.)

 MAK Asset Management Ltd.

 EM Capital Partners Ltd.

 MET Capital Group Ltd.

 Canal Capital Ltd.

 Man Capital Partners Ltd.

 Alpha Cap Securities Ltd.

The Commission therefore wishes to inform the general public that anyone who engages in any transaction with any of these companies, could be exposing him/herself to avoidable risk.

Investigations are ongoing and the public shall be given further notice in due course.

BY ORDER OF THE

SECURITIES AND EXCHANGE COMMISSION

Dated the 8th Day of May, 2018

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Investment banks in Ghana Top 5 investment banks in Ghana and why you...bullet
2 Incompetence Otabil wasn't qualified to be Capital Bank Board Chairman...bullet
3 Breaking Otabil finally breaks silence on banking controversiesbullet
4 Salaries In 2018 Here are the dates public workers will be paid in...bullet
5 Banking In Ghana Stranded customers of First Allied Savings &...bullet
6 Education Top 5 private high schools in Ghana according to WAECbullet
7 Increment Fuel prices to go up again – IESbullet
8 Nana Appiah Mensah Menzgold boss apologises to BoG after...bullet
9 Nana Appiah Mensah Menzgold CEO invited by EOCObullet
10 Collapsed Banks Here are the auditing firms for the 7...bullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 Money Alert Meet Africa's richest womanbullet
3 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
4 Former Capital Bank staff grills pork for survivalbullet
5 Plane Crash Starbow suspends operations following plane crashbullet
6 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
7 Support Finance minister buys Kantanka carbullet
8 Tech 6 reasons you should buy an iPhone SE instead of any...bullet
9 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
10 New Phones Nokia MWC 2018 Event in 5 minutesbullet

Business