The Securities and Exchange Commission is warning investors to desist from engaging PBAY Limited, which is purporting to facilitate the payment of locked-up funds of customers’ of defunct fund management firms in return for fees or a commission.
The securities regulator in a statement said it has neither nor the Official Liquidator [Registrar General] authorized the actions of PBAY Limited.
“The SEC by this notice wishes to warn the general public and advise investors to submit their claims and supporting documentation only to publicly announced and designated persons in accordance with statutory notices issued or published by the Official Liquidator or the Securities and Exchange Commission. Anyone who disregards this warning does so
at his or her own risk.”
Furthermore, the SEC said in reference to the government’s bailout programme, it is reminding the general public and affected investors that the agreement reached with government was for the bailout to be effected only after validation of claims and liquidation orders are secured from the Courts of the Republic of Ghana.
The first phase [payment] currently underway covers clients of the 23 companies currently under official liquidation, based on their validated claims.
The second phase will cover clients of the remaining companies after the liquidation orders are secured through a transparent court process which is currently ongoing.
The SEC said there is therefore no need to contract financial advisors or facilitators to expedite anyone’s legitimate claims.
Additionally, the general public and investors are to note that no facilitation fee is required of investors who sign up for the Government Bailout package.
It advised the public and affected investors to be proactively updated on the progress of the
process through the appropriate channels, including media and the website of the
Commission.
Requests for information relating to the bailout, can also be made by calling the dedicated bailout call center number on 0242-439453 or visiting www.bailout.rgd.gov.gh for updates on the bailout situation.
Latest Stories
-
19 steps for getting over even the most devastating breakup fast
3 hours -
8th Ghana CEO Summit launched with focus on AI transformation, economic diversification
3 hours -
Prof Opoku-Agyemang has not been given a fair appraisal – Ablakwa
3 hours -
Rainstorm wreaks havoc in Keta and Anloga districts, residents count their losses
3 hours -
Global Plastics Treaty negotiations begin in Ottawa as countries converge on phasing out problematic plastic uses
3 hours -
Support energy alternatives adoption to sustain businesses – GUTA tells government
3 hours -
11th DRIF opens in Accra with a call on governments to focus on digital inclusion
3 hours -
Stakeholders outline plans at RE4C Coalition’s General Assembly in Accra
3 hours -
Women Need ‘shock observers’ for active political participation – Ex-Bauchi Assembly Member
4 hours -
2024 polls: Stop fighting over positions in Mahama’s next government – Asiedu Nketiah
4 hours -
Although people may not always listen to the lyrics, there’s still a market for rap in Ghana – E.L.
4 hours -
Passengers appeal to transport operators to officially announce new fares
4 hours -
Damongo: About 400 NPP Members resign over Minister’s alleged meddling in chieftaincy affairs
4 hours -
Next NDC government will pay special attention to women – Naana Opoku-Agyemang
4 hours -
Amerado is singing and it’s good he’s doing that – Lyrical Joe
5 hours