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SEC to use CBG to validate customers of 53 defunct Fund Management Companies

The Security and Exchanges Commission (SEC) has selected the Consolidated Bank of Ghana Limited (CBG) as a validation point for customers of 53 defunct Fund Management Companies.

In a release Wednesday, the Commission said, “effective Monday, November 18, the branches of Consolidated Bank of Ghana Limited (CBG) will open to receive from clients of the affected FMCs, evidence of investment claims such as investment certificates, account statements, receipts and other relevant documentation for validation.”

According to SEC, the offices of the affected FMCs will, however, remain closed until further notice.

“We will issue further notice on commencement of payment to investors whose claims have been validated. Investors are advised to visit the designated CBG branches assigned to the affected FMCs for repayment of investments made and any other enquiries relating to the revocation of their affected FMCs.

Below is a mapped branch network of CBG branches to the offices of the affected Fund Management companies.

 

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