The Securities and Exchange Commission (SEC) Director General, Rev. Daniel Ogbarmey Tetteh, has announced that the SEC is starting a digitalization effort to reinforce its function as the capital market’s primary regulator.
The “Interim Regulatory Compliance Portal” (IRCP) would let market operators electronically submit returns.
Rev. Tetteh stated during the Black Star Group’s annual webinar series on July 26, 2022, dubbed “2022 Investor Webinar Series,” that the long-term goal was to use the regulatory compliance portal (RCP), as is done in other markets, to access market operators’ systems and collect information at various times.
This year’s webinar had “The Future Starts Today: Effective Recovery, Resilience, and Continuity Amid Global Market Shocks” as its theme.
“We can still slightly modify or whitewash information that we supply, whether it is submitted online or not. As a result, he said, “we are looking into the possibility of being able to access systems and select information.
Rev. Tetteh acknowledged that this might have some ramifications for the capability and capacity of the technology implemented during his talk on “Restoring Investor Confidence in the Ghanaian Economy – The Role of SEC.”
“But because we are now at the stage of digitizing our operations and looking at implementing the IRCP we are looking at all the options.
“We currently have an interim solution, but we’re moving forward with the core RCP, or how we can enter and gather information. We are examining ways to improve our market surveillance, including how the SEC and market participants do it, he said.
Speaking on the topic of “The Contribution of Pension Funds in Developing and Sustaining a Robust Financial System,” Nana Wiafe Boamah, Chief Investment Officer of Axis Pensions Trust, noted that studies have shown that pension funds have a significant impact on the development of capital markets, with the outcome being driven by nations with high financial development.
He claimed that pension funds had little impact on nations with little financial progress.
The influence of a pension fund will be insufficient if the financial system is weak. Pension funds won’t have the necessary market impact if your macros are weak, he said.
