The SEC issued a public notice pursuant to Sections 3(b) (f) (m) and 208 (c) of the Securities Industry Act, 2016 (Act 929).
The fund managers include HFC Capital Partners Limited, Attai Capital Limited, Serengeti Capital Limited, Indigo Investment Management Limited, Verit Investment Advisory Limited and Waxson Investment, and Pension Management Limited.
The statement indicated that the Commission has after a thorough assessment of the circumstances, approved their requests.
The six companies are, therefore, not mandated to carry out any fund management activities.
The statement further warned 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 in order to promote the growth and development of an efficient, fair and transparent securities market in which investors and the integrity of the market are protected”, the SEC added.