The Securities Industry Law, 1993 (PNDCL 333) as amended by the Securities Industry (Amendment) Act 2000 (Act 590) provides that Commissioners of the SEC shall be composed of a maximum of Eleven (11) members.

Act 590 provides that the Commission's membership be made up of the following:

1. A Chairman
2. The Director-General
3. The two Deputy Directors-General
4. A representative of the Bank of Ghana not below the rank of a Director
5. A representative of the Ministry of Finance not below the rank of Director
6. The Registrar -General or his representative
7. Four other persons including either a judge of the Superior Court or a lawyer qualified to be appointed a judge of the Superior Court.

The Commissioners of the SEC, who shall hold office for a period of 3 years, are appointed by the President of the Republic acting in consultation with the Council of State.

The Commissioners are eligible for re-appointment at the end of their three-year term.

Committees of the Commission
Act 590 empowers the Commission to appoint Committees composed of Commissioners or non-Commissioners or both to assist in the performance of the functions of the Commission. A Committee so appointed may be assigned such functions of the Commission as it may determine. A Committee composed exclusively of non - Commissioners, however, may only advise the Commission.

Administrative Hearings Committee
Without prejudice to the general power of the Commission to appoint Committees as indicated above, Act 590 has established an Administrative Hearings Committee of the Commission.

The Administrative Hearings Committee, which has a composition of five (5) members (who are all Commissioners), is chaired by the chairman of the Commission.

The Administrative Hearings Committee has the function of examining and determining complaints and disputes related to, in respect of, or arising out of any matter to which PNDCL 333, Act 590 and Regulations made under these laws applies. The Administrative Hearings Committee may also perform other related functions referred to it from the Commission.

Act 590 also provides that any complaint, dispute or violation arising from Act 590, PNDCL 333 or Regulations made thereunder shall, before redress is sought in the courts be addressed by the Administrative Hearings Committee.

Commissioners

The Present Commissioners of the SEC were appointed by His Excellency, the President of Ghana in consultation with the members of the Council of State as required by Law on the 17th of January, 2002 and they were sworn into office on the 17th of March, 2002.

Present Membership of the Commissioners are:

Professor G.K.A. Ofosu-Amaah - Chairman

Dr. Nii K. Sowa - Director General -SEC

Mr. K. Okwabi- Deputy Director General (Legal)-SEC

Mr. Ekow Acquaah-Arhin - Deputy Director General (Finance & Admin.) -SEC

Ms. Elsie Addo - Member

Mrs. Amma Gaisie - Member (Rep. of Registrar General's Dept.)

Mr. Francis Badasu - Member (Rep. of Bank of Ghana)

Mr. K.B. Oku-Afari - Member (Rep. of Ministry of Finance)

Ms. Dorothy Gyamfi - Member

Mr. P.K. Buabeng - Member