SEC holds engagement in the Western Region

SEC holds engagement in the Western Region

The Securities and Exchange Commission (SEC) has organised an engagement in the Western Region at Takoradi dubbed ‘Time with the SEC’, which attracted individuals from diverse professional backgrounds.

The programme was on the theme ‘Understanding the Role of SEC in the Capital Market’. The engagement was to help the public have knowledge about SEC and the opportunities they offer.

Topics discussed included: overview of the industry and capital raising; understanding SEC; regulatory frameworks, tools and enforcement powers; update on implementation of government bailout programmes; as well as investing in the capital market and Ponzi scheme education.

Due to the recent economic challenges, which had many financial institutions losing their licences as a result of liquidity shortfalls that brought about some investors losing their funds, SEC considered it important to educate the general public on investments, bailout updates, locked-up funds, and the regulator’s role in the capital market.

Director General of the Securities and Exchanges Commission, Daniel Ogbarmey Tetteh, at the event explained that security in the industry enables individuals to put their savings to work without any fear.

According to him, SEC has come out with a lot of initiatives, business guidelines, what is permissible, among others, to assure investors of their monies’ safety.

“We have taken steps to ensure that the systems and structures are there for investors to have confidence in us. When dealing with the market operator, let us ensure we get the right institution to deal with at all times,” he said.

Kwabena Okyere Darko Mensah, Western Regional Minister, applauded SEC for organising the programme in the region.

He indicated that this is the surest way of drawing the public’s attention to certified investment avenues rather than falling prey to bad investment products, further requesting the regulator to set up an office in the region.

“This can be an alternative to what happens in Accra, and we hope that SEC will be able set up an office in the region within a few years.”

Nana Kobina Nketsia, Omanhene of Essikado Traditional area, added that: “We must have integrity in our money and investment, since we are all interested in the country’s economy”.

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