Regulatory Alerts2020-06-12
Update on Revocation of Licences of Fund Management Companies: Appeals Against Revocations
The Securities and Exchange Commission issued this notice to update the status of appeals against the November 2019 revocation of 53 fund management company licences. The Administrative Hearings Committee restored the licence of Monarch Capital Ltd, commuted the revocations of Integrity Fund Mgt Ltd and Legacy Fund Management Ltd to six-month suspensions, and sustained the revocations for five other companies. The notice further identifies three companies whose cases are currently pending in court and provides contact details for investor queries.
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