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Funds and asset management in Ghana involves the regulation and operation of entities that handle pooling, investing, and managing financial assets on behalf of clients or investors. The sector covers mutual funds, unit trusts, private and public investment funds, as well as asset management firms and trustees handling pension funds. Due to the role these entities play in securing and growing wealth, a robust legal and regulatory framework exists to ensure investor protection, market stability, and professionalism among operators. Regulatory oversight is primarily provided by the Securities and Exchange Commission (SEC) of Ghana, complemented by other bodies such as the Bank of Ghana and the National Pensions Regulatory Authority (NPRA). Compliance with both statutory and regulatory requirements is central to successful operation within this sector.
Legal support in funds and asset management is often critical due to the technical and regulated nature of the sector. Common situations where individuals and companies require legal advice include:
Securing legal counsel ensures that you and your investments are protected and compliant with complex local laws and regulations.
The main legal frameworks governing funds and asset management in Ghana include the Securities Industry Act, 2016 (Act 929), the Companies Act, 2019 (Act 992), the National Pensions Act, 2008 (Act 766), and the Collective Investment Schemes (CIS) Regulations, 2001 (L.I. 1695). Key aspects include:
The SEC licenses, regulates, and supervises all entities involved in fund and asset management, ensuring compliance with Ghanaian law to protect investors and the financial system.
Yes, anyone wishing to operate as a fund manager or run a collective investment scheme in Ghana must obtain a license from the SEC and comply with its requirements.
Both are forms of collective investment schemes but differ in their legal structure. Mutual funds are usually companies issuing shares to investors, while unit trusts are set up as trusts issuing units instead of shares.
Investor funds are protected through legal requirements for asset segregation, regular reporting, professional management, oversight by trustees or custodians, and SEC supervision.
Investors in collective investment schemes have rights to receive timely and accurate reports, participate in key decision-making (such as voting at general meetings), redeem their investments, and be treated fairly and transparently.
Yes, subject to compliance with applicable investment laws, foreign entities and individuals can invest in Ghanaian funds or obtain SEC approval to operate as fund managers, but may face certain restrictions or capital requirements.
Fund managers must provide periodic reports to the SEC and investors, including audited financial statements, portfolio updates, and material information affecting the fund's performance or operation.
If a fund manager breaches the law or regulations, the SEC can impose fines, suspend or revoke licenses, and refer criminal matters for prosecution. Investors may also pursue legal action for compensation.
You may first seek to resolve the dispute directly with the fund manager or through internal complaints procedures. If unresolved, you can report the issue to the SEC or take legal action in the courts of Ghana.
Verify their SEC licensing status, review audited financial statements, assess disclosure practices, research their management history, and seek independent legal advice where necessary.
Several organizations and resources are available to assist with funds and asset management matters in Ghana:
If you require legal assistance related to funds and asset management in Ghana, consider the following steps:
Early legal guidance can help you navigate complex regulations, avoid costly mistakes, and secure your investments effectively in Ghana’s dynamic financial market.
Lawzana helps you find the best lawyers and law firms in Ghana through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Funds & Asset Management, experience, and client feedback.
Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters.
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Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation.
We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.
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