SEC Suspends Cowry Asset Management and Its Sponsored Individuals from Issuing House Activities


Wednesday, August 26/2015, 08:30 AM /SEC

The Securities & Exchange Commission is empowered under Sections 13(n), 45, 303 of the Investments and Securities Act (ISA) 2007 and Rule 598 of its Rules and Regulation to protect the integrity of the capital market against all forms of abuses by sanctioning persons who violate the provisions of the Act and the Rules and Regulations made pursuant thereto.

In line with this, the Commission wishes to notify the investing public that Cowry Asset Management Ltd and its sponsored individuals for Issuing House function have been suspended from undertaking Issuing House business with immediate effect. This is due to the company’s failure to honour its underwriting obligation in accordance with Rule 318 (2) of SEC Rules and Regulations.

The suspension shall remain in force until further notice.

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