53 out of the 141 investment companies in the country have had their operating licences revoked by the Securities and Exchange Commission (SEC).

According to SEC, the revocation of the licences is to protect the integrity of the securities market and investors.

‘These firms failed to inform clients about the risk that they are taking.They also failed to notify the Commission about their dealings”,said the Director-General of the SEC,Daniel Ogbarmey Tetteh.