Regulatory Alerts2014-01-01
Financial Services (Appointment of Manager) Order 2014
The Financial Supervision Commission issued this Order under the Financial Services Act 2008 to specify the circumstances in which it may apply to the High Court for the appointment of a manager to oversee a regulated person's affairs. The Order revokes the 2008 version and prescribes grounds for such appointments, including inadequate management, serious breaches of fiduciary duties, license suspension, or failure to protect customer assets. These measures are designed to preserve assets, protect stakeholders, and ensure orderly conduct within the financial services sector.
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