SEC ready to crack the whip on market violators

The Director of the Securities and Exchanges Commission (SEC) has issued a stern warning to market players who flout regulatory laws, asserting the Commission’s readiness to “crack the whip” when necessary.

Speaking in an interview, Rev. Daniel Ogbarmey Tetteh stated that the SEC is fully equipped to deal with any infractions that threaten market confidence and stability.

“The regulator has a number of tools in the regulatory toolkit, and we deploy them in a graduated manner,” Rev. Tetteh stated, outlining the SEC’s approach to enforcement.

“Depending on the gravity of the issue and the risk it poses to the entire market, we know which tool to deploy—whether it’s fines, suspensions, or the ultimate sanction of revocation.”

Rev. Tetteh reflected on the 2019 market cleanup, where several firms had their licenses revoked.

He explained that the process took time because the SEC wanted to provide market operators an opportunity to rectify any infractions.

“It’s not at the first instance of an infraction that we pull the plug,” he clarified. “But you can have my firm assurance that if we need to pull the plug, we will.”

The SEC’s actions, he stressed, are always proportional to the nature and severity of the violation. “We want to be firm but fair,” he said.

“We won’t hesitate to take decisive action when the situation demands it. Market operators must know that compliance is not optional.”

Rev. Tetteh’s comments come in response to growing concerns about market confidence and the SEC’s ability to enforce compliance effectively.

He assured that the Commission is committed to building a credible and resilient market, adding, “We will do whatever it takes to maintain trust and integrity in Ghana’s capital market.”