LAWS AND REGULATIONS

The securities industry in Ghana is governed by the Securities Industry Law 1993, PNDCL333. The Securities Industry Law, among other things, brought about the establishment of the Securities and Exchange Commission (formerly Securities Regulatory Commission).

The Law also provides for the functions of the Commission, the establishment of stock markets, the licensing of Stockbrokers/Dealers and Investment Advisers, Unit Trusts and Mutual Funds, registers of interest in securities, the mode of conduct of securities businesses, issues concerning Accounts and Audits, the establishment of fidelity funds and trading in securities.

Our Responsibilities include:

• Providing companies and the general public with guidance in interpreting the provisions of the securities laws, rules and regulations on the subject of listing of securities and handling any investor complaints;
• Licensing and regulating all market operators such as Investment Advisors, Dealers and their representatives, including the regulation of the Ghana Stock Exchange;
• Overseeing and regulating the fund management industry in Ghana and administering the securities laws affecting Collective Investment Schemes such as Unit trusts and Mutual funds;
• Overseeing the disclosure of material information to the investing public by companies, including securities listed on the Ghana Stock Exchange;
• Performing post prospectus checks on the utilization of funds collected through public subscriptions;
• Investigating any breaches of the securities laws and the Companies Code; and
• Supervising mergers and acquisitions offers.

In December 2000, an Act to amend some provisions of the Securities Industry Law 1993, PNDCL 333 was passed. This Act, Act 590, makes fuller provisions for the operation and regulation of Unit Trusts and Mutual Funds; provides for the settlement of disputes arising under the Law; provides for consequential amendments arising from provisions of the Constitution and provides for related purposes.

• Securities Industry Law, PNDC Law 333
• Securities Industry Amendment Act, Act 590
• Unit Trusts & Mutual Funds Regulations, L.I 1695
• Securities and Exchange Commission Regulations, 2003 L.I 1728
• New Foreign Exchange Act,2006. Act 723
  

For further enquiries contact the Securities and Exchange Commission on info@secghana.org. To purchase hardcopies of the Laws, contact Assembly Press (Ghana Publishing Corporation) in Accra, GHANA.