Zenith Bank
The Securities and Exchange Commission (SEC) has said Zenith Bank is still operating in the Ghanaian securities market and offering banking services despite an earlier notice that the bank has voluntarily ceased to operate as a Trustee in the securities industry and the capital market.
In a second statement to clarify an earlier one issued on Wednesday (18 January), SEC said: “The attention of the SEC has been drawn to various messages being disseminated among the general and investing public misinterpreting the Public Notice titled PUBLIC NOTICE ON VOLUNTARY CESSATION OF TRUSTEE SERVICES BY ZENITH BANK GHANA LIMITED (SEC/PN/001/01/2023), issued by the SEC on Wednesday, 18th January 2023.”
It added: “The SEC is hereby issuing this public notice to clarify that, as stated in the public notice referenced above, Zenith Bank Ghana Limited voluntarily requested to cease operations as a Trustee. Although Zenith Bank Ghana Limited voluntarily ceased its Trustee services for Unit Trust Schemes in 2022, the Bank continues to hold a Custodian licence issued by the SEC under the Securities Industry Act, 2016 (Act 929) and remains an active operator in the Ghanaian securities market and banking industry.”
Read the full statement below:
PUBLIC NOTICE ON CAPITAL MARKET OPERATIONS BY ZENITH BANK GHANA LIMITED
The Securities and Exchange Commission (hereinafter referred to as “SEC”) is the statutory body mandated by the Securities Industry Act 2016 (Act 929) as amended by the Securities Industry (Amendment) Act 2021, Act 1062 to promote the orderly growth and development of an efficient, fair and transparent securities market in which investors and the integrity of the market are protected.
The attention of the SEC has been drawn to various messages being disseminated among the general and investing public misinterpreting the Public Notice titled “PUBLIC NOTICE ON VOLUNTARY CESSATION OF TRUSTEE SERVICES BY ZENITH BANK GHANA LIMITED (SEC/PN/001/01/2023)”, issued by the SEC on Wednesday, 18th January 2023.
The SEC is hereby issuing this Public Notice to clarify that, as stated in the Public Notice referenced above, Zenith Bank Ghana Limited voluntarily requested to cease operations as a Trustee. Although Zenith Bank Ghana Limited voluntarily ceased its Trustee services for Unit Trust Schemes in 2022, the Bank continues to hold a Custodian license issued by the SEC under the Securities Industry Act, 2016 (Act 929) and remains an active operator in the Ghanaian Securities market and banking industry.
For more information, please call us at 0302768970, the toll-free line 0800100065 or by email at info@sec.gov.gh.
This Notice is issued pursuant to Sections 3(b) (f) (m) and 208 (c) of the Securities Industry Act, 2016 (Act 929).
ISSUED BY ORDER OF
THE SECURITIES & EXCHANGE COMMISSION (SEC)
DATED: 18/01/2023
Download the full document here
(NOTICE NO. SEC/PN/002/01/2023)
