List of Fund Managers remaining after SEC mass license revocation

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Business News of Monday, 11 November 2019

Source: citibusinessnews.com

2019-11-11

SEC says there are 11 companies that have unresolved issues with the regulatorSEC says there are 11 companies that have unresolved issues with the regulator

The Securities and Exchange Commission last Friday revoked the licenses of 53 fund management companies citing several regulatory breaches.

A press release issued by SEC said the companies among other things failed to honour clients’ redemption requests, placed funds in unregulated investments, used clients’ funds to fund related parties’ activities.

Out of the 53 companies, 21 had already ceased operations with the remaining 32 still in operation at the time their licenses were revoked.

Following the mass license revocation, SEC published a list of the outstanding fund management companies on its website. Although 83 fund managers remain after the clean-up, SEC stated that there are 11 companies that have unresolved issues with the regulator.

List of Fund Managers remaining after the license revocation exercise.

1. 10th Capital Investments Limited

2. Afina Asset Management

3. Africa Trust Capital Limited

4. Algebra Capital Management Limited
5. Avant Capital Limited*

6. Black Star Advisors Limited

7. Bora Capital Advisors Ltd.

8. Boulders Advisors Limited

9. CAL Asset Management Limited

10. Capstone Capital Limited

11. CBL Investment Services Ltd.

12. Chapel Hill Denham Management Ltd.

13. Cidan Investments Limited
14. Continental Capital limited*

15. Cornerstone Captial Advisors Limited

16. Crystal Capital & Investment Ltd.

17. Dalex Capital Ltd.

18. Databank Asset Management Services Limited
19. Delta Capital Limited*

20. Dusk Capital Limited*


21. E.D & Co Capital Partners Limited

22. Ecobank Capital Advisors Limited

23. EcoCapital Investment Management Limited

24. EDC Investments Limited

25. EGAS Capital Ltd

26. Everbond Financial Services Limited

27. Fairnet Capital Limited

28. Family Fountain Assets and Securities Limited

29. Fidelity Securities Limited

30. First Atlantic Asset Management Co. Limited

31. First Finance Company Ltd

32. Gateway Wealth Management Limited

33. GLICO Capital Limited

34. Glorygate Capital Ltd.

35. Halifax Asset Management

36. HMI Management Services Limited

37. IC Asset Managers (Ghana) Limited

38. IFS Capital Management Limited

39. IGS Financial Services Limited

40. Intrepid Investment Advisory and Asset Management Limited
41. Investa Capital Fund Management Ltd*

42. Investcorp Asset Management Ltd
43. InvestEye Capital Partners Ltd*

44. Investiture Fund Managers Ltd

45. Investrust Capital Ltd.
46. Linx Capital Limited*

47. NA Jones Capital Limited*

48. National Trust Holding Company Limited (NTHC)*


49. NDK Capital Limited

50. New Generation Investment Services Limited

51. NewCase Capital Limited

52. Nimed Capital Limited

53. Octane Sd Limited

54. Orialles Capital Ltd

55. Oya Capital Ltd

56. Parkstone Capital Ltd

57. Pent Asset & Wealth Management Ltd.

58. PhoenixAfrica Securities Limited

59. Premium Place Investments Ltd.
60. Prestige Capital Limited*

61. Prudential Securities Limited

62. RAD Business Advisory Network Centre Ltd

63. Regal Alliance Investment Ltd.

64. Reliance Capital & Asset Finance Limited

65. Renaissance Africa Group Limited

66. Republic Investments (Ghana) Limited

67. Salem Financial Services Limited

68. SAS Investment Management Limited

69. SDC Capital Limited

70. SEM Capital Advisors Limited

71. Serengeti Asset Management Limited

72. SIC Financial Services Limited

73. Solange Capital Partners Limited

74. Stanlib Ghana Limited

75. Star Asset Fund Management Ltd

76. Steward Capital Partners Limited

77. Temple Investments Ltd.

78. TTL Capital Limited
79. UMB Investment Holdings Limited*

80. Union Capital Limited

81. WAICA RE Capital Limited

82. Wealth Management Limited

83. Worldwide Investments Co. Limited

*The highlighted companies, according to SEC, are Fund Managers with major regulatory issues: pending complaints, suspension etc.

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