The Securities and Exchange Commission, SEC has written to Menzgold Ghana Company, to shut down all investment trading in gold
The SEC said: "It is our expectation that being your
The current decision by the Securities and Exchange Commission comes after several warnings from the Bank of Ghana to Menzgold to stop trading in gold without a licence.
The central bank, on 7 August 2018, issued a public notice, the fourth of many, that it was in discussions with relevant regulatory authorities to sanction Menzgold for engaging in “solicitation, receipt of money or investment and the payment of dividends or returns to its clients” without a licence to do so.
Also, The Securities and Exchange Commission (SEC) in October 2017 announced that Menzgold Ghana Limited, an investment company has not been licensed to operate in the capital markets.
In a notice published in the Monday, October 2
Meanwhile, September 3, 2018 letter from SEC stated added that failure by Menzgold to comply with the directive “will lead to the SEC employing other relevant measures under the law to enforce compliance.”