SECURITIES AND EXCHANGE COMMISSION SUSPENDS OPERATION OF MENZGOLD

The Securities and Exchanges Commission has closed down the operations of  Menzgold  Ghana limited according to a letter signed by Paul Ababio Deputy Director General.

The decision according to SEC is in violation of operating permits adding “Accordingly, the SEC hereby directs Menzgold Company Ltd to shut down immediately the business of trading in gold collectibles with guaranteed returns to clients which constitutes, in essence, dealing in securities with neither the necessary license nor disclosures authorised by the SEC. No new contracts should be created and all advertising of the investment business
halted with immediate effect.

Comments

Post a Comment

Popular posts from this blog

"Halt Single Window System Takeover"--EMT To Ministry of Trade And Industry

Image
The Ministry of Trade and Industry has being directed by the Economic Management Team (EMT) to immediately halt the January 1, 2019 single window system takeover by CUPIA of Korea Customs Service and Ghana Link Network Service Limited. The decision, which was taken on December 18, 2018 and communicated to the ministries of Trade and Finance, is to ensure that issues regarding the takeover of operations at the country's ports are addressed. A letter to that effect was signed by the Secretary and member of the EMT at the Vice-President's Secretariat, Professor Joe Amoako-Tuffour, and copied to the Commissioner General of the Ghana Revenue Authority, Mr Kofi Nti. The EMT has also demanded an additional eight-month transitional period (January to August) to avoid potential disruptions to port clearing systems. DETAILS OF THE EMT DIRECTIVES In the statement, the EMT tasked CUPIA of Korea and Ghana Link Network Service to provide a demonstration that they had developed a "full...
Read more