SEC reintroduces compliance forum for stakeholders

SEC issues guidelines to regularise credit rating industry

The Securities and Exchange Commission (SEC) has reintroduced the Compliance Forum for its respective stakeholders, with the first edition organised for members of the Ghana Securities Industry Association (GSIA).

The forum aimed at providing clarity on issues of compliance and giving market operators a better sense of the SEC’s expectations of them. It also sought to highlight the SEC’s various regulatory frameworks guiding the activities of market operators.

Speaking at the forum, Director-General (DG) of the SEC, Rev. Daniel Ogbarmey Tetteh, accentuated the need for market operators to ensure compliance in the conduct of their business to avoid obvious sanctions and penalties.  He noted that regulated businesses are associated with compliance, and there is therefore a need for the regulator to provide clarity on compliance for its regulatees.

Commenting on the various guidelines and regulatory frameworks introduced by the SEC, he urged market operators to be mindful of issues relating to corporate governance. He also noted that the compliance forum will enable all market operators to have a better sense of the SEC’s expectations and promote adherence to its regulations.

He encouraged market operators to build a good relationship with their clientele by executing their orders, providing timely information with full disclosures, and ensuring diligent utilisation of invested funds.

He concluded by indicating the SEC’s commitment to engage stakeholders in creating an enabling regulatory environment for firms to thrive, as part of its mandate of regulating, innovating and promoting the growth and development of an efficient, fair and transparent securities market in which investors and integrity of the market are protected. The Compliance Forum with GSIA was held virtually with participants from the GSIA.

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