SEC Revokes Licences of 5 Investment Companies

The Securities and Exchange Commission (SEC) has revoked the licenses of five investment companies, pursuant to Section 122 of the Securities Industry Act, 2016 (Act 929).

The companies are; Georgetown Capital Partners , Equity Capital, Index Analytics, DM Capital Ltd and Oxygen Advisory Ltd.

According to the statement issued by the SEC on their website, the companies are not mandated to carry out any Fund Management activities and anyone who engages in any transaction with any of these companies or their representatives, in their capacity as Fund Managers, do so at their own risk.

The Commission 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.

Business World