CBG Will Validate & Pay Customers Of Collapsed Fund Management Companies-SEC

CBG Will Validate & Pay Customers Of Collapsed Fund Management Companies-SEC

The Securities and Exchange Commission (SEC) has asked customers of the collapsed fund management firms to visit CBG branches from Tuesday to validate their documents to receive payments.

The Deputy Director-General for SEC Paul Ababio who made the disclosure said customers of the affected companies will receive text messages showing them the processes to receive their monies once their documents are validated.

Speaking to Accra based Starr FM he said “In terms of the way forward, we are working with CBG to ensure that investors can file their claims from tomorrow at CBG branches and once we’ve done the validation, we will make some funds available and that will also be announced to the general public.”

According to him, the initial payments will only cover the principal of customers.

SEC has revoked the operating licences of 53 investment companies, Friday.

The revocation of the licences, according to the regulator, is to protect the integrity of the securities market and investors.

Source: rainbowradioonline.com