The Director of the Securities and Exchanges Commission (SEC), Rev. Daniel Ogbarmey Tetteh, has outlined the Commission’s robust measures to ensure that market players abide by regulatory standards.
In an interview on Joy News’ PM Express Business Edition on Thursday, he stated that the SEC is unwavering in its mission to maintain market integrity and protect investors’ interests.
Rev. Tetteh explained that the SEC has introduced new licensing guidelines that emphasize the “fit and proper” principle.
“The licensing is the gatekeeper,” he stated.
“If we make it loose, then all kinds of people would come in. We have tightened it and made it more rigorous.”
He mentioned that this move has been met with resistance by some market participants, who view the new process as burdensome.
However, he stressed the necessity of these measures to ensure only qualified and reputable individuals are allowed entry into the market.
Further, Rev. Tetteh highlighted the introduction of the “conduct of business guidelines,” which set strict requirements for the independence and composition of boards, as well as their functioning through committees.
“We are conducting regular checks to monitor compliance among market operators,” he noted, underscoring the Commission’s commitment to upholding corporate governance standards.
The SEC has also issued investment guidelines to address problematic areas such as related party transactions.
“We’ve put in restrictions and limited the percentage of assets that can be committed to such dealings,” he said.
Additionally, he revealed the Commission’s migration to a risk-based supervision framework designed to proactively identify and address early warning signs from market operators.
“We developed an enforcement manual, and we’ve strengthened our enforcement activities. When people get letters from the SEC, they start shaking,” Rev. Tetteh stated, reflecting the SEC’s renewed commitment to strict oversight.
According to him, these efforts are part of the broader Capital Market Master Plan, launched in 2020, which aims to enhance enforcement, regulation, and market confidence.
Latest Stories
-
Fatawu’s injury a big blow for us – Leicester City manager
9 mins -
No MC has influenced pop culture in 2024 more than me – Portfolio
12 mins -
Kpando NCCE holds dialogue for Parliamentary Candidates
27 mins -
Bawumia solicits support of CSOs to tackle ‘entrenched interests’ in corruption fight
30 mins -
I’m looking forward to working with CSOs, research institutions; they have a lot to offer – Bawumia
33 mins -
The former illegal miner who became valedictorian: Eliasu Yahaya Bansi’s KNUST journey
45 mins -
Prof Opoku-Agyemang slams gov’t over supply of ‘expired’ rice to Senior High Schools
50 mins -
‘Expired rice’: FDA fines Lamens Investments GH¢100k for regulatory violations
54 mins -
No student has been served unwholesome meals – Nana Boakye
1 hour -
Galamsey has left our river deities powerless – Fetish Priest laments
1 hour -
It was unfair to destroy Leslie’s Fantasy Dome – Okraku-Mantey
1 hour -
Expired rice scandal: We won’t jeopardize people’s health or safety for any reason – FDA
2 hours -
UniMAC to host public forum on democracy and communication
2 hours -
Expired Rice Scandal: Ablakwa slams Lamens Company for “Criminal” acts
2 hours -
Avoid the use of vituperative expressions in your campaigns – NCCE
2 hours