The Director of the Securities and Exchanges Commission (SEC), Rev. Daniel Ogbarmey Tetteh, has outlined the Commission’s robust measures to ensure that market players abide by regulatory standards.
In an interview on Joy News’ PM Express Business Edition on Thursday, he stated that the SEC is unwavering in its mission to maintain market integrity and protect investors’ interests.
Rev. Tetteh explained that the SEC has introduced new licensing guidelines that emphasize the “fit and proper” principle.
“The licensing is the gatekeeper,” he stated.
“If we make it loose, then all kinds of people would come in. We have tightened it and made it more rigorous.”
He mentioned that this move has been met with resistance by some market participants, who view the new process as burdensome.
However, he stressed the necessity of these measures to ensure only qualified and reputable individuals are allowed entry into the market.
Further, Rev. Tetteh highlighted the introduction of the “conduct of business guidelines,” which set strict requirements for the independence and composition of boards, as well as their functioning through committees.
“We are conducting regular checks to monitor compliance among market operators,” he noted, underscoring the Commission’s commitment to upholding corporate governance standards.
The SEC has also issued investment guidelines to address problematic areas such as related party transactions.
“We’ve put in restrictions and limited the percentage of assets that can be committed to such dealings,” he said.
Additionally, he revealed the Commission’s migration to a risk-based supervision framework designed to proactively identify and address early warning signs from market operators.
“We developed an enforcement manual, and we’ve strengthened our enforcement activities. When people get letters from the SEC, they start shaking,” Rev. Tetteh stated, reflecting the SEC’s renewed commitment to strict oversight.
According to him, these efforts are part of the broader Capital Market Master Plan, launched in 2020, which aims to enhance enforcement, regulation, and market confidence.
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