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Friday, May 27, 2022

SEC Warns Investors Against Tizaa Ghana Fund

Rev Daniel Ogbarmey Tetteh, SEC boss

THE SECURITIES and Exchange Commission (SEC) has announced that Tizaa Ghana Fund has not been licensed by to carry out any capital market activity including investing or trading for returns as mandated by Section 3 of the Securities Industry Act, 2016 (Act 929).

It also said Tizaa Ghana Fund is therefore not regulated by the SEC.

In a recent statement issued in Accra, SEC said “the general public is advised to be cautious with investing in unlicensed products. The general and investing Public is further advised to consult the SEC through its toll-free line number 0800100065 or main line number 0302768970-2 to confirm the licensing status of any firm offering products or services relating to investments in the capital market.”

It continued, “The SEC wishes to reassure all market operators, investors, and the general public that it is dedicated to ensuring rigorous implementation of all the rules for operators in the Capital Market to promote the orderly growth and development of an efficient, fair, and transparent securities market in which investors and the integrity of the market are protected. Please note that this public interest warning is issued pursuant to section 208(c) of the Securities Industry Act 2016 (Act 929).”

SEC is the statutory body mandated by the Securities Industry Act 2016 (Act 929) to promote the orderly growth and development of an efficient, fair, and transparent securities market in which investors and the integrity of the market are protected.

It added that one of its core functions is “to maintain surveillance over activities in the securities industry and to protect investors by publishing at regular intervals information to the public, to inform their investment decisions.”

A business desk report

 

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