SEC directs online investment platforms to obtain licensing by August 31
The Securities and Exchange Commission (SEC) has issued a directive requiring all operators of online investment applications, trading platforms and certain financial technology (FinTech) services to obtain the appropriate registration and licensing before August 31, 2026.
The move forms part of efforts by the regulator to strengthen investor protection and enhance oversight of Ghana’s rapidly growing digital investment ecosystem.
According to the SEC, it has observed an increasing number of unregistered online investment applications and trading platforms providing access to securities listed on both local and international markets.
The Commission expressed concern that some of these platforms operate outside the regulatory framework, exposing investors to potential fraud and other financial risks.
“All persons to whom this Directive applies must complete the licensing and registration process outlined in Clause 4.0 of this Directive, with the SEC, before 31st August 2026,” the statement noted.
In the directive, the SEC stated that all licensed market operators that own or operate investor-facing technology platforms used to provide licensed investment services must obtain separate approval and licensing for each platform.
The requirement also applies to FinTech companies and individuals operating online investment or trading platforms that undertake activities regulated by the SEC.
Additionally, digital platforms acting as intermediaries in investment transactions will be required to secure the appropriate registration and licences from the Commission.
The SEC clarified that the directive does not apply to: “ancillary technology services or platforms designed to solely support back-office and non-investor-facing operations, including reporting, reconciliation, and monitoring; (b) Transaction Screening systems and AML/CFT Regulatory Technology solutions; (c) Online Reporting and Complaints Portals for Investors; and online Educational platforms used for investor protection and fraud awareness only.”
does not apply to technology solutions used solely for back-office operations, transaction screening systems, anti-money laundering and counter-terrorism financing regulatory technology tools, investor complaints portals or online educational platforms dedicated to investor awareness and fraud prevention.
As part of the directive, the Commission warned all operators of unapproved online investment applications and trading platforms to immediately cease operations if they are not licensed or registered.
It also urged the investing public to verify the legitimacy of investment products and platforms through the SEC before committing funds.
The regulator outlined a five-step process for registration and licensing, which includes the completion of an entry form, demonstration of the platform to the SEC, regulatory assessment, payment of applicable fees and the issuance of a registration or licensing certificate.
The SEC noted that failure to comply with the directive could attract sanctions under the Securities Industry Act, 2016 (Act 929), as amended.
The directive takes immediate effect and will remain in force until amended, revised or revoked by the Commission.
The SEC says the measures are intended to promote an orderly, transparent and secure securities market while protecting investors from unregulated and potentially fraudulent investment schemes.
Source: 3news.com by Raphael Ghartey
