{"id":741055,"date":"2019-11-09T08:30:20","date_gmt":"2019-11-09T08:30:20","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/11\/09\/licence-revocation-nduom-reacts-adomonline-com\/"},"modified":"2019-11-09T08:30:20","modified_gmt":"2019-11-09T08:30:20","slug":"licence-revocation-nduom-reacts-adomonline-com","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/11\/09\/licence-revocation-nduom-reacts-adomonline-com\/","title":{"rendered":"Licence revocation: Nduom reacts – Adomonline.com"},"content":{"rendered":"

<\/p>\n

\n
\n
\"\"
Dr Papa Kwesi Nduom, CEO, Groupe Nduom (Includes Gold Coast Securities)<\/figcaption><\/figure>\n<\/div>\n

Group
\n Nduom, majority shareholders\u00a0of Blackshield Capital Management
\n(formerly Gold Coast Fund Management) has expressed disappointment at
\nthe revocation of the company\u2019s licence. <\/p>\n

Hours after the Securities and Exchange Commission announced the revocation, Dr Paa Kwasi Nduom, Chairman and Chief Executive Officer of Group Nduom\u00a0said\u00a0his company\u2019s request for help and announced plans\u00a0to mitigate customers into a private-sector solution, was not considered by the regulator in arriving at its decision.\u00a0<\/p>\n

RELATED STORY: Just in: SEC revokes licences of Gold Coast Securities; 52 others<\/strong><\/p>\n

\u00a0\u201cWe
\n are disappointed that SEC would take this action without responding to
\nthe numerous request to assist Blackshield in retrieving funds owed by
\nvarious government of Ghana entities,\u201d the statement said.\u00a0<\/p>\n

The Securities and Exchange Commission (SEC)\u00a0revoked the operating licences of 53 investment companies, Friday.<\/p>\n

RELATED STORY: List: 53 securities, fund management companies whose licences have been revoked<\/strong><\/p>\n

Blackshield Capital Management is among 32 operating firms whose licences have been revoked.<\/p>\n

The revocation of the licences, according to the regulator, is to protect the integrity of the securities market and investors.<\/p>\n

READ: Stop receiving salary from State if\u2026 \u2013 Abronye DC to Mahama<\/strong><\/p>\n

At a stakeholder meeting Friday before releasing a list of the affected companies, the Director-General of the SEC, Rev. Daniel Ogbarmey Tetteh, said troubled securities firms that have still not been able to address concerns raised about their operations over the years are among those affected by the action.<\/p>\n

Twenty-one other firms were already out of business before the decision to revoke their licences was taken.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Dr Papa Kwesi Nduom, CEO, Groupe Nduom (Includes Gold Coast Securities) Group Nduom, majority shareholders\u00a0of Blackshield Capital Management (formerly Gold Coast Fund Management) has expressed disappointment at the revocation of the company\u2019s licence. Hours after the Securities and Exchange Commission announced the revocation, Dr Paa Kwasi Nduom, Chairman and Chief Executive Officer of Group Nduom\u00a0said\u00a0his […]<\/p>\n","protected":false},"author":1,"featured_media":724172,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-741055","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nLicence revocation: Nduom reacts - Adomonline.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\/2019\/11\/09\/licence-revocation-nduom-reacts-adomonline-com\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Licence revocation: Nduom reacts - Adomonline.com - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Dr Papa Kwesi Nduom, CEO, Groupe Nduom (Includes Gold Coast Securities) Group Nduom, majority shareholders\u00a0of Blackshield Capital Management (formerly Gold Coast Fund Management) has expressed disappointment at the revocation of the company\u2019s licence. 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