The Financial Services Commission (the “Commission”) has noted that some entities have not yet applied for a licence in accordance with the transitional provisions under the Securities Act 2005. The Commission hereby draws your attention that this constitutes an offence under Section 142(1) of the Securities Act 2005 and under Section 14 of the Financial Services Act 2007.
The entities are hereby required to comply with the Securities Act by 30 March 2012. In the event of non-compliance by this date, entities will be subject to regulatory actions.
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