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The Director-General of the Securities and Exchange Commission (SEC), Reverend Daniel Ogbarmey Tetteh, has urged credit unions in the country to learn from the recent financial sector clean-up.
That, he pointed out, was necessary to avoid falling victim like some of the affected institutions and to improve on Ghana’s systems and capacity to deliver a world-class financial sector.
“A regulated activity means compliance with standard, rules and procedures. I want to suggest that you must be big on compliance as it is germane to the success of financial institutions.
“Ethical behaviour must take the front seat in the financial industry, and it is important to help people to become compliant by defining clearly, the standards of ethical behaviours, as well as introducing a regime of sanctions against unethical behaviour,” he said.