Full list of 53 Fund Management companies whose licenses have been revoked

The Securities and Exchange Commission (SEC) today [Friday, November 8, 2019] revoked the licenses of 53 Fund Management Companies.

According to the SEC, the revocations were done pursuant to Section 122 (2) (b) of the Securities Industry Act, 2019 (Act 929) which authorizes SEC to revoke the license of a market operator under some circumstances.

SEC, in a statement explained that the revocation follows the companies’ failure to “return client funds which remain locked up and in a number of cases, have even folded up their operations.”

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Here is the full list of the affected institutions 

1. All-Time Capital Partners Limited
2. Alpha Cap Securities Limited
3. Axe Capital Advisors Limited
4. Apex Capital Partners Revoked
5. Beige Capital Limited Revoked
6. Brooks Asset Management Limited
7. Cambridge Capital Advisors Limited
8. Canal Capital Limited Revoked
9. Corporate Hills Investment Ltd.
10. Dowjays Investment Limited
11. EM Capital Limited Revoked
12. Energy Investments Limited
13. Fromfrom Capital Limited
14. Frontline Capital Advisors Limited
15. FirstBanc Financial Services Limited
16. Galaxy Capital Limited
17. Gold Coast Fund Management Limited
18. Gold Rock Capital Management Limited
19. Goldstreet Fund Management Limited
20. Global Investments Bankers Limited
21. Heritage Securities Limited
22. Ideal Capital Partners Limited
23. Integrity Fund Management Limited
24. Intermarket Asset Management Ltd
25. Kripa Capital Ltd.
26. Kron Capital Limited
27. Legacy Financial Services
28. Liberty Asset Management Limited
29. Kamag Kapital Limited
30. Mak Asset Management Limited
31. Man Capital Partners Limited
32. Mec-Ellis Investment(Ghana) Limited
33. McOttley Capital Limited
34. Monarch Capital Limited
35. Mutual Integrity Assets Management Limited
36. Nesst Capital Limited
37. Nickel Keynesbury Limited
38. Nordea Capital Limited
39. Omega Capital Limited
40. Procap Finance Company Limited
41. QFS Securities Limited
42. SGL Royal Kapita Limited
43. Sirius Capital Limited
44. Strategic Hedge Capital Limited
45. Standard Securities Limited
46. Supreme Trust Capital Limited
47. Tikowrie Capital Ltd.
48. Unisecurities Limited
49. Universal Capital Management
50. Ultimate Trust Fund Management Ltd.
51. Utrak Capital Management Limited
52. Wealth Vision Financial Services Limited
53. Weston Capital Limited

Voluntary Cessation

1. HFC Capital Partners Limited
2. Attai Capital Limited
3. Serengeti Capital Limited
4. Indigo Investment Management Limited
5. Verit Investment Advisory Limited