Gold Coast welcomes moves by SEC to restore investor confidence

April 17, 2019

The Gold Coast Fund Management (GCFM) on Tuesday said it welcomes the confirmation by the Security and Exchange Commission (SEC) that it is seriously engaging it to find a lasting solution to the liquidity crisis it is facing.

It referred to the statement issued, on Tuesday, by the Commission, which stated that they were reviewing proposals submitted by the GCFM, the biggest fund manager in the country, on how they hoped to meet payment obligations to their customers and investors.

“The Commission is presently reviewing the viability of the proposals and wishes to assure all interested parties that it is doing so only in the interest of investor protection,” it quoted the SEC.

The GCFM’s statement said the Company was optimistic that the approval of its proposal would give their clients real value for their investment and provide a roadmap for other struggling fund management companies seeking solutions to their liquidity challenges.

“We submitted Cardinal Offer as an investment option to our Structured Finance Product. We believe the Cardinal Offer will give our customers real value for their investment while helping to mitigate our liquidity challenges,” it quoted its General Manager of External Affairs and Investor Relations, Benjamin Afreh.

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