Market Guidance on the Issuance of Licences to Representatives of Licensees, 2010 🇬🇭

Ghana

Circular Number: sec-cir-oo1-02-10

Market Guidance on the Issuance of Licences to Representatives of Licensees, 2010

Commenced on 1 April 2010
[This is the version of this document from 1 April 2010.]

This Market Guidance Note is issued pursuant to the Securities Industry Law 1993 (PNDCL 333) as amended by Act 590 s.9 (d) which empowers the Securities and Exchange Commission to formulate principles for the guidance of the Securities Industry. The following guidelines are provided to aid the issuance of licences to representatives of licensees.Pursuant to Regulation 13 (1), L.I. 1728, two categories of the Commission's licensees are mandated to licence representatives, i.e. Investment Advisers and Broker-Dealers (Stockbrokers).DEFINITION OF INVESTMENT ADVISERInvestment Adviser is defined under Securities Industry Law, 1993 (PNDCL 333) as amended by Act 590, s.142 (1) to include:•A person who carries on a business of advising others concerning securities•A person who as part of a regular bu…

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