SEC Ready to Enforce Sanctions on Violators of Market Regulations – Director General
The Securities and Exchange Commission (SEC) has issued a stern warning to market participants, emphasizing its readiness to enforce compliance and “crack the whip” on those who violate regulatory laws.
Speaking on Joy News’ PM Express Business Edition, Rev. Daniel Ogbarmey Tetteh, Director General of the SEC, affirmed the Commission’s commitment to safeguarding market stability and restoring investor confidence.
Rev. Tetteh highlighted that the SEC is well-equipped with a range of enforcement tools, which are deployed based on the severity of infractions. “The regulator has a number of tools in the regulatory toolkit, and we deploy them in a graduated manner,” he stated.
Depending on the seriousness of the violation and its potential impact on market integrity, the SEC can impose fines, suspensions, or, in extreme cases, revoke licenses.
Reflecting on the 2019 market clean-up, where several firms lost their licenses, Rev. Tetteh noted that the SEC’s approach prioritizes giving firms the opportunity to correct their infractions before taking harsher measures.
“It’s not at the first instance of an infraction that we pull the plug,” he explained, though he made it clear that the SEC would not shy away from decisive action when necessary. “You can have my firm assurance that if we need to pull the plug, we will.”
The Director General emphasized that the SEC’s enforcement is proportional, ensuring fairness while protecting the interests of the broader market. “We want to be firm but fair,” Rev. Tetteh remarked, adding that compliance with regulatory requirements is non-negotiable for market players. “Market operators must know that compliance is not optional.”
His comments come amid growing concerns about market confidence, with investors seeking reassurance that the SEC can effectively uphold market rules and standards. Rev. Tetteh reassured stakeholders that the Commission remains focused on building a resilient and credible market environment, asserting, “We will do whatever it takes to maintain trust and integrity in Ghana’s capital market.”
The SEC’s firm stance reflects its broader strategy to create a more transparent and accountable market, where regulatory infractions are swiftly addressed to protect both investors and the overall financial ecosystem. As Ghana’s capital markets evolve, the SEC’s emphasis on regulatory enforcement is expected to play a key role in maintaining market confidence and fostering sustainable growth.
