Regulatory Alerts2016-05-06
SEC Sri Lanka Directive on Entrust Capital Markets Regarding Regulatory Concerns
The Securities and Exchange Commission of Sri Lanka issued a directive to Entrust Capital Markets (Private) Limited to cease accepting new clients and executing trades on their behalf. The regulator mandated the firm to facilitate the transfer of existing client portfolios to other stockbrokers and restrict fund withdrawals to those with prior written SEC approval. These operational restrictions became effective immediately upon receipt of the communication and remain in force until further notice due to specific regulatory concerns.
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