The Ghana Stock Exchange (GSE) has expelled Worldwide Securities Limited (WSL) for multiple regulatory breaches, barring it from trading activities.
A statement from the GSE confirmed that WSL failed to renew its Broker-Dealer license with the Securities and Exchange Commission (SEC).
The Exchange cited Rule 9(2)(e) of its Dealing Membership Rules, which mandates firms to maintain a valid license.
WSL also defaulted on financial obligations to the GSE, violating Rule 9(2)(b), which requires timely payment of dues.
Additionally, the firm lacked the required activity threshold for broker-dealer operations, breaching Rules 6(L) Exchange’s regulations.
With this expulsion, WSL can no longer trade securities, manage investments, or operate as a GSE member.
The Exchange has advised affected clients to transfer their accounts and assets to other licensed brokers. The Exchange has advised affected clients to transfer their accounts and assets to other Licensed Dealing Members.
This action reinforces the GSE’s commitment to enforcing compliance and safeguarding investor confidence in Ghana’s financial markets.
Source: Citinewsroom
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