Press Release

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/PERSONTYPE OF LICENCE HELDCOMPANY REPRESENTED, IF ANYENFORCEMENT ACTION TAKENDATE OF REVOCATION
1.      Mr. Fred SiwilaDealer's Representative's LicenceStanbic bank LimitedRevocation of Licence in accordance with section 41 (2) (e) of the Securities Act No. 41 of 2016.11th November 2019
2.      Entrust Financial Services LimitedInvestment Adviser's LicenceN/ARevocation of Licence in accordance with section 41 (2) (f) of the Securities Act No. 41 of 2016.25th November 2019
3.      Minet Zambia Consulting LimitedDealer's licenceN/ACancellation of licence pursuant to section 11 (3) and (4) of the Securities Act No. 41 of 201621st May 2019
4. Panex Commodity Exchange Zambia Limited (“PANEX”);Securities Exchange licence N/ACancellation of licence pursuant to Section 27 of the Securities Act No. 41 of 201626th December 2019

The following licences were surrendered to the Commission by the respective licensees:

NAME OF LICENSEETYPE OF LICENCE SURRENDEREDCOMPANY REPRESENTED, IF ANYDATE WHEN LICENCE WAS SURRENDERED
1. Mr. David BrownInvestment Adviser's Representative LicenceEntrust Financial Services Limited26th November 2019
2. Mr. Aaron Yobe ZuluDealer's Representative's LicenceLaurence Paul Investment Services Limited18th December 2019