The Capital Markets Authority (CMA) has suspended the Money Manager licence of Trade Sense Limited for 90 days due to non-compliance with regulatory requirements.
The suspension took effect on March 3, 2024.
CMA stated that the enforcement action is part of its mandate to protect investors and ensure licensed firms operate within the law to maintain order and integrity in the capital markets.
“The suspension is due to the failure by Trade Sense Limited to comply with various regulatory requirements, which undermines the duty to protect investors and foster market confidence,” CMA Chief Executive Officer Wyckliffe Shamiah said.
According to CMA, the regulator has been engaging with Trade Sense Limited since 2023 to address multiple breaches, including failures in governance, financial compliance, anti-money laundering measures, and operational standards.
The authority will review the situation within the 90-day period to determine whether to lift the suspension or take further enforcement action.
