The Securities and Exchange Commission (SEC) has named 10 operators engaged in fund management activities as being under investigation for various complaints leveled against them.
The fund management companies under investigation as listed by SEC are as follows:
- MEC-Ellis Investment Ghana Ltd.
- Weston Capital Ltd.
- Brooks Asset Management Ltd.
- Kamaag Kapital Gh. Ltd. (formerly Lifeline Asset Management Ltd.)
- MAK Asset Management Ltd.
- EM Capital Partners Ltd.
- MET Capital Group Ltd.
- Canal Capital Ltd.
- Man Capital Partners Ltd.
- Alpha Cap Securities Ltd.
The commission says the companies are being investigated “for numerous pending complaints levelled against them by the investing public bordering on violation of provisions of the Securities Industry Act, 2016 (Act 929)”.
It has thus warned the public not to engage in any transaction with the named companies as investigation goes on.
It has however given assurance that once investigations are over, the public will be duly notified.