SEC suspends Sterling Securities

Accra, Nov. 8, GNA - The Securities and Exchange Commission (SEC) on Monday said it had suspended the Advisor's and Dealer's Licences of Sterling Securities Limited for its failure to meet the minimum financial requirements as stipulated by law.

A statement issued in Accra mentioned the effective date as November 4, 2005 and advised the Company not to undertake any transaction in connection with securities until the SEC restored its licences.

The SEC explained that under the SEC Regulation LI 1728; the Company was expected to deposit at least one billion cedis with it, "but it was unable to do so since it was issued with licences last August.