• Live Radio
  • Videos
  • About
  • Contact
  • Despite Media
Ghana Election 2020
  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Opinion
  • VIDEOS
  • Media
    • Videos
    • Audio
    • Live Radio
    • Photos
  • Election 2020
Local News
 
 
 
Home Business Economy 201904

SEC Will Assist Fund Managers Genuinely Suffering From Locked-Up Funds

23-Apr-2019
/ Economy, Business
Email
Print
Comments 0
(0)
Comments
Share on Facebook Share on Twitter
 

The Security and Exchange Commission (SEC) says it will pursue the interest of licensed asset management firms with legally proven locked up funds in some microfinance and savings and loans firms, which have run into financial difficulty.

The Director-General of the SEC, the Reverend Daniel Ogbarmey Tetteh, said the situation of counterparty default risk had impaired the liquidity assets of some fund managers.

Rev Obgarmey Tetteh was speaking in a media interview about fund managers such as Gold Coast, who are facing liquidity challenges and have blamed the situation on counterparty default.

“The BOG and Ministry of Finance have given some indication that they’ll be having some kind of intervention for the distressed microfinance, savings and loans like they did for the banks,” he explained.

“The SEC has started engaging with the Ministry and BOG in this process so we can assist our licensed operators who have been affected by counterparty defaults to redeem their locked-up funds.

“Provided our licensed operators, who are exposed to these distressed companies provide solid evidence, submit all documents and can ascertain their claims, when the bailout occurs, they’ll definitely be paid their money”.

Such fund managers, he explained, were unable to readily redeem their investments from these ailing firms; hence they faced a problem of cash flow, which was hindering their inability to meet the payment obligation of their clients.

Source: GNA

 

 
 

 

Comments ( 0 ): Post Your Comments >>

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
Featured Video
Previous Post

Fishing Communities Get Ghc 7.5m In New Projects Under Current Premix Arrangement

Next Post

Regulate “Black-Market” Transactions – Prof Quartey

 
 

More Stories

No Workers To Fill Vacancies In Germany, Grocery Bills Up 28.6% - A Look At Life in Europe's 'Economic Powerhouse'
IMF Loan "Will Not Spell The Immediate End" Of Economic Challenges - Akufo-Addo
Germany Falls Into Recession Following Inflation
E-levy Rakes In 11% Revenue For Q1 2023
BoG Takes Steps To Curb Cyber Threats
Banking Sector Showing Signs Of Recovery Post-DDEP
Financial Sector Recovery Strategy Ready By End-June – IMF
LIST: GRA Chases 93 VAT Defaulters
Gov’t Confident Of Fulfilling Structural Targets
Next Post

Regulate “Black-Market” Transactions – Prof Quartey

  Ghana Business News

  • General News
  • Economy
  • Banking & Finance
  • Stock Market
  • Industry/Manufacturing


 
 

Other Economy Stories

  • No Workers To Fill Vacancies In Germany, Grocery Bills Up 28.6% - A Look At Life in Europe's 'Economic Powerhouse'

  • IMF Loan "Will Not Spell The Immediate End" Of Economic Challenges - Akufo-Addo

  • Germany Falls Into Recession Following Inflation

  • E-levy Rakes In 11% Revenue For Q1 2023

  • BoG Takes Steps To Curb Cyber Threats

  • Banking Sector Showing Signs Of Recovery Post-DDEP

  • Financial Sector Recovery Strategy Ready By End-June – IMF

  • LIST: GRA Chases 93 VAT Defaulters

  • Gov’t Confident Of Fulfilling Structural Targets

  • Tighter Monetary Policy Expected Under IMF Programme

 

 
 

Popular Videos

Ade Akye Abia With Kwame Nkrumah Tikese On Okay 101.7 Fm (24/05/2023)

MIDDAY NEWS 26/05/23

LATE NEWS DISCUSSION 26/05/23

DISCUSSION SEGMENT ON ADEKYE NSROMA 25/05/23

DAWURO 25/05/23

LATE NEWS DISCUSSION 25/05/23

Peace FM Online and Despite Media

peacefmonline.com offers its reading audience with a comprehensive online source for up-to-the-minute news about politics, business, entertainment and other issues in Ghana

Follow us on social media:

Category

  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Opinion
  • Trivia
  • Foreign
  • Audio
  • Photos
  • Videos
  • Elections
Decision Time
Ghana Election 2020 2016 Elections
Services
Live Radio Audio on Demand Ghana Elections Advertise with Us
Useful Links
Despite Media About Us Contact Us Feedback Form Terms and Conditions Privacy
Our Brands
Despite Media UTV Peace FM Okay FM Hello FM Neat FM Peacefmonline
  • About
  • Advertise
  • Terms & Conditions
  • Contact
  • Privacy

© 2020 Peacefmonline.com - An online portal owned and managed by Despite Media

  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Articles
  • Trivia
  • Foreign
  • Live Radio
  • Photos
  • Videos
  • Audio
  • Election 2020

© 2020 Peacefmonline.com - An online portal owned and managed by Despite Media