{"id":426356,"date":"2017-10-07T13:29:15","date_gmt":"2017-10-07T13:29:15","guid":{"rendered":"https:\/\/ghana-mma.com\/2017\/10\/07\/sec-to-increase-minimum-capital-requirements-for-operators-myjoyonline-com\/"},"modified":"2017-10-07T13:29:15","modified_gmt":"2017-10-07T13:29:15","slug":"sec-to-increase-minimum-capital-requirements-for-operators-myjoyonline-com","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/10\/07\/sec-to-increase-minimum-capital-requirements-for-operators-myjoyonline-com\/","title":{"rendered":"SEC to increase minimum capital requirements for operators\n&#8211; MyJoyOnline.com"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Firms operating in the securities and capital market are set to\u00a0have their minimum capital requirement increased.<\/p>\n<p>JoyBusiness\u00a0understands the announcement which would\u00a0soon be made will give operators up to a\u00a0year to meet the new levels.\u00a0<\/p>\n<p>Director General of the Securities and Exchange Commission (SEC), Reverend Daniel Ogbarmey, told JoyBusiness the move was influenced by current developments in the economy and efforts to protect the investments\u00a0in the country.\u00a0<\/p>\n<p><!-- \/1002554\/Myjoyonline.com_InArticle_300x250 --><\/p>\n<p>He noted that \u201cif you take that one for fund managers for instance, currently is at \u00a2100,000, that\u2019s woefully inadequate, so I would not give you any percentage indicator, but what I can say is that the increases would be significant\u201d.<\/p>\n<p><b>Which firms would be affected?<\/b><\/p>\n<p>According to the Commission,\u00a0the review would affect all the firms in the entire capital market including\u00a0those operating as brokerage dealers, custodians, Fund Managers, Mutual Fund Managers, and Investment Advisors.<\/p>\n<p>The rest are primary dealers, Unit Trust, Registrar, Investment Advisors, and Exchanges.<\/p>\n<p><b>Industry reactions\u00a0\u00a0<\/b><\/p>\n<p>Most firms operating in the sector told\u00a0JoyBusiness they welcome\u00a0the move by the regulator, with some saying it was long over-due.<\/p>\n<p>However, most of them were worried about the exact amount that the regulator would settle on, looking at the fact that the Director-General has indicated the review would be substantial.<\/p>\n<p>This according to analysts bring to completion, moves to increase the capital requirement for an entire financial sector, that is the banking, insurance and the securities industries.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Firms operating in the securities and capital market are set to\u00a0have their minimum capital requirement increased. JoyBusiness\u00a0understands the announcement which would\u00a0soon be made will give operators up to a\u00a0year to meet the new levels.\u00a0 Director General of the Securities and Exchange Commission (SEC), Reverend Daniel Ogbarmey, told JoyBusiness the move was influenced by current developments [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-426356","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC to increase minimum capital requirements for operators - MyJoyOnline.com - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2017\/10\/07\/sec-to-increase-minimum-capital-requirements-for-operators-myjoyonline-com\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC to increase minimum capital requirements for operators - MyJoyOnline.com - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Firms operating in the securities and capital market are set to\u00a0have their minimum capital requirement increased. JoyBusiness\u00a0understands the announcement which would\u00a0soon be made will give operators up to a\u00a0year to meet the new levels.\u00a0 Director General of the Securities and Exchange Commission (SEC), Reverend Daniel Ogbarmey, told JoyBusiness the move was influenced by current developments [&hellip;]\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/10\\\/07\\\/sec-to-increase-minimum-capital-requirements-for-operators-myjoyonline-com\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/10\\\/07\\\/sec-to-increase-minimum-capital-requirements-for-operators-myjoyonline-com\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"SEC to increase minimum capital requirements for operators &#8211; MyJoyOnline.com\",\"datePublished\":\"2017-10-07T13:29:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/10\\\/07\\\/sec-to-increase-minimum-capital-requirements-for-operators-myjoyonline-com\\\/\"},\"wordCount\":252,\"commentCount\":0,\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/10\\\/07\\\/sec-to-increase-minimum-capital-requirements-for-operators-myjoyonline-com\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/10\\\/07\\\/sec-to-increase-minimum-capital-requirements-for-operators-myjoyonline-com\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/10\\\/07\\\/sec-to-increase-minimum-capital-requirements-for-operators-myjoyonline-com\\\/\",\"name\":\"SEC to increase minimum capital requirements for operators - MyJoyOnline.com - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/#website\"},\"datePublished\":\"2017-10-07T13:29:15+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/10\\\/07\\\/sec-to-increase-minimum-capital-requirements-for-operators-myjoyonline-com\\\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2017\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC to increase minimum capital requirements for operators - MyJoyOnline.com - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2017\/10\/07\/sec-to-increase-minimum-capital-requirements-for-operators-myjoyonline-com\/","twitter_card":"summary_large_image","twitter_title":"SEC to increase minimum capital requirements for operators - MyJoyOnline.com - Ghanamma.com","twitter_description":"Firms operating in the securities and capital market are set to\u00a0have their minimum capital requirement increased. 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