Defunct fund mgt companies: Registrar-General to begin creditors meeting Sept. 15
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The Registrar-General’s Department, the official Liquidator of the 53 defunct fund management companies will from Tuesday, September 15, 2020 begin a scheduled virtual meeting with creditors.
The virtual meeting is for an update on a Government of Ghana Bailout Plan for creditors who qualify as investors of the Asset Management Companies (AMCs) and are under the regulatory remit of the Securities and Exchange Commission (SEC).
A statement by the Registrar-General stated that links to the meetings shall be delivered to all investors via text message before the 15th day of September, 2020.
The virtual meeting has become necessary after the Securities and Exchange Commission, (SEC) in November last year revoked the licenses of 53 fund management companies.
The SEC said the affected companies failed to return client funds which remained locked up in, contravention of the investment rules.