By Kofi Ahovi The Securities and Exchange Commission (SEC) has revoked the licence of Quad Investment Limited with effect from February 23. In a statement issued by SEC, regulators of the capital market said its action was because the company failed to comply with conditions attached to the licence issued under the Securities Industry Act, 1993, PNDCL 333. “The Company is thus not allowed to carry on any business for which the licence was issued. However, securities transactions that were entered into before February 23, 2009 by Quad Investment Limited should be settled,” the statement said. According to the statement, the company is being directed to forthwith return funds belonging to all clients and submit a report to the commission by Wednesday, March 4. SEC also cautioned the investor public that Quad Investment Limited no longer held a valid securities industry licence from the commission. “The commission wishes to assure the public that it will vigorously enforce the securities ...