Notice of Licences Revoked, Cancelled and Surrendered
NOTICE is hereby given that the following licences were revoked, cancelled or surrendered pursuant to the provisions of the Securities Act, No. 41 of 2016. Therefore, the following persons are precluded from engaging in any securities business by virtue of the revocation, cancellation or surrender of the licenses:
NAME OF ENTITY/PERSON | TYPE OF LICENCE HELD | COMPANY REPRESENTED, IF ANY | ENFORCEMENT ACTION TAKEN | DATE OF REVOCATION |
---|---|---|---|---|
1. Mr. Fred Siwila | Dealer's Representative's Licence | Stanbic bank Limited | Revocation of Licence in accordance with section 41 (2) (e) of the Securities Act No. 41 of 2016. | 11th November 2019 |
2. Entrust Financial Services Limited | Investment Adviser's Licence | N/A | Revocation of Licence in accordance with section 41 (2) (f) of the Securities Act No. 41 of 2016. | 25th November 2019 |
3. Minet Zambia Consulting Limited | Dealer's licence | N/A | Cancellation of licence pursuant to section 11 (3) and (4) of the Securities Act No. 41 of 2016 | 21st May 2019 |
4. Panex Commodity Exchange Zambia Limited (“PANEX”); | Securities Exchange licence | N/A | Cancellation of licence pursuant to Section 27 of the Securities Act No. 41 of 2016 | 26th December 2019 |
The following licences were surrendered to the Commission by the respective licensees:
NAME OF LICENSEE | TYPE OF LICENCE SURRENDERED | COMPANY REPRESENTED, IF ANY | DATE WHEN LICENCE WAS SURRENDERED |
---|---|---|---|
1. Mr. David Brown | Investment Adviser's Representative Licence | Entrust Financial Services Limited | 26th November 2019 |
2. Mr. Aaron Yobe Zulu | Dealer's Representative's Licence | Laurence Paul Investment Services Limited | 18th December 2019 |