Registrar General Jemima Oware acting as liquidator for collapsed fund management firms has indicated that she plans to commence payment of locked-up funds from the last week of September.
According to the Registrar General this will be done after completing engagement with creditors of 22 Fund management firms.
Speaking to JoyBusiness ahead of her engagement on Business Edition of JoyNews’ PM Express, which will be aired on September 10, 2020, Mrs Oware said the necessary information has been put out in the dailies on the things that need to be done before they start getting their investments.
Making payment process less stressful for investors
The Registrar General said that they plan setting up a website to help the process to aid payments.
All these are part of efforts to make the whole process seamless, she said. They have also sent messages to those that had their claims validated on how the process will be done.
“Investors are supposed to send their details the numbers that have been provided in the publication,” she said.
Meeting with Creditors of the Defunct Fund Managing Firms
The Registrar General Mrs Jemima Oware begun on Monday 7 September begun engaging creditors of defunct Fund management funds.
According to the Registrar General, this will be done via a virtual platform with the creditors of 22 Fund Management firms.
The meeting according to her is needed to ensure that all concerns are addressed before they commence payment.
The creditors meeting is expected to cover creditors of Inter-market formally CDH, Brooks Investment and All Time Capital.
She also revealed that the doors of Registrar General are still open for taking claims for investors of these defunct Fund Management firms, while adding that, they are working to have a class meeting with investors.
Revocation process and fair hearing….
The Securities and Exchange Commission has justified revocation of the 55 Fund management firms insist everyone was given fair hearing.
The assurance is coming after the Commission was accused by Blackshield Capital of bias and unfair treating.
But speaking to ahead of PM EXPRESS on Tracking Revocation Process, Director-General Reverend Daniel Obgame Tetteh said the process has been fair to all the firms, insisting that everything was done to ensure that everyone one that had a case was heard.
The Securities and Exchange commission last year withdrew the licenses of some fund management firms in the country over their failure to meet market target, regulations and liquidity concerns.
According to him, they have put measures in place to ensure that “we don’t get back to this current challenge experienced.”
He said this will be done by reviewing supervision of the capital market.