The United States Securities and Exchange Commission (SEC) has appointed a case manager to look into the petition filed by the minority in Ghana's parliament over the country's recent $2.25billion bond issuance.
Speaking on Joy FM, the Minority Spokesperson on Foreign Affairs Samuel Okudzeto Ablakwa who filed the petition, confirmed he had received communication from SEC, indicating the appointment of case manager Jennifer Carr,  to deal with the matter.
“We have just received another communication from the United States Securities and Exchange Commission. They have informed us that they have appointed a case manager who is going to be communicating with us on this matter and pursuing the investigations further,â€
The US regulatory body will probe the issue in which US-registered company Franklin Templeton purchased 95 per cent of the 15-year and 7-year bonds.
The SEC will primarily probe suspected conflict of interest and insider trading which are violations of US law by Trevor G. Trefgarne, Director of Franklin Templeton and a Board Chairman of Enterprise Group – a company owned and founded by Ghana’s Finance Minister Ken Ofori-Atta.
Meanwhile if the case manager Jennifer Carr, finds the Minority’s concerns valid, Franklin Templeton and other witnesses may be compelled testify and produce books, records, and other relevant documents on the bonds.
The SEC may bring an administrative action if adverse findings are established after a review of the findings.
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