Ghana’s capital market would lose the opportunity to exchange information with other markets across the globe if the country’s new Securities Industry Law is not passed by December this year.

The Securities and Exchange Commission, SEC last year concluded the review of the law to bring it into conformity with international laws.

The new laws are currently waiting cabinet approval before forwarded to parliament for consideration.

The Director General of Securities and Exchange Commission, Adu Anane-Antwi tells Joy Business the country cannot afford any more delays.

The Securities and Exchange Commission is currently a member of the International Organization of Securities Commission, IOSCO. The membership obliges SEC to formulate and implement laws that meet international standards and also friendly to persons who have investments in the country’s capital market.

The deadline for countries to implement the laws is 20 December, 2012 – failure which the international ranking of the SEC would not be upgraded to the highest standing.

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