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The Securities and Exchange Commission (SEC), has issued a notice pursuant to Sections 3 and 208 of the Securities Industry Act, 2016 (Act 929) revoking the licences of five fund managers.

The Commission, the statutory body mandated by the Securities Industry Act 2016 (Act 929) to promote the orderly growth and development of an efficient, fair and transparent securities market in which investors and the integrity of the market are protected, said in a statement that it “wishes to bring to the notice of the general public that the licences of the underlisted licensed operators engaged in fund management activities in the capital market (Fund Managers), have been revoked pursuant to Section 122 of the Securities Industry Act, 2016 (Act 929)”:

• Georgetown Capital Partners Ltd.

• Equity Capital Ltd.

• Index Analytics Ltd.

• DM Capital Ltd.

• Oxygen Advisory Ltd.

In view of the above, the SEC said the companies are not mandated to carry out any fund management activities.

The Commission said it “wishes to inform the general public that anyone who engages in any transaction with any of these companies or their representatives, in their capacity as fund managers, could be exposing him/herself to avoidable risk”.

“The Commission hereby assures all investors, market operators and the general public that it is committed to ensuring rigorous enforcement of all the rules for operators in the capital market as spelt out in its core mandate”.

It also advised the general public to contact the Commission on its foll free number: 0800-100-065 or main line: 0302768970-2 for any further clarification.


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