In a statement, SEC said the companies did not pay clients’ redemption requests, placed funds in unregulated investments, and many more.

After the revocation, the SEC has published a list of the outstanding fund management companies on its website.

In the publication SEC stated that although 83 fund managers remain after the clean-up, there are 11 companies that have unresolved issues with the regulator.

Below is the list of Fund Managers remaining after the license revocation exercise.

10th Capital Investments Limited

Afina Asset Management

Africa Trust Capital Limited

Algebra Capital Management Limited

Avant Capital Limited*

Black Star Advisors Limited

Bora Capital Advisors Ltd.

Boulders Advisors Limited

CAL Asset Management Limited

Salem Financial Services Limited

SAS Investment Management Limited

SDC Capital Limited

SEM Capital Advisors Limited

Serengeti Asset Management Limited

SIC Financial Services Limited

Solange Capital Partners Limited

Stanlib Ghana Limited

Star Asset Fund Management Ltd

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