The Amalgamated Mutual Fund PLC (The AM Fund) has commenced cash payments under the partial bailout scheme to clients of the Fund Management Companies (FMCs) for which the Official Liquidator has yet to obtain Liquidation Orders from the courts. This follows the announcement by the Securities and Exchange Commission (SEC)…
Remain compliant, learn from clean-up exercise – SEC to credit unions
Director-General of the Securities and Exchange Commission (SEC), Daniel Ogbarmey Tetteh, has admonished credit unions to remain compliant and pick-up lessons from the financial sector clean-up exercise.
According to him, this would enable credit unions operating in the country to avoid falling prey to a reoccurrence of the clean-up exercise that affected various financial institutions.
Speaking at the biennial conference of the Ghana Co-operative Credit Unions Association (CUA), the Director-General of SEC explained, “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.