FSC: Suspension of the Investment Dealer (Full Service Dealer Excluding Underwriting) Licence of BRAMER CAPITAL BROKERS LTD & Order to Cease Trading in Securities
Notice is hereby given in accordance with Section 27 of the Financial Services Act 2007 (the ‘FSA’) that the Investment Dealer (Full Service Dealer Excluding Underwriting) Licence of BRAMER CAPITAL BROKERS LTD (‘BCBL’), having its registered address at 11th Floor, Bramer House, 66C2 Cybercity, Ebene, Mauritius, has been suspended with immediate effect.
In view of the actions already taken against several entities forming part of the BAI Group and the current state of administration, the Financial Services Commission, Mauritius (the ‘Commission’) has grounds to believe that the business activities of BCBL is detrimental to the interests of its clients, the investors and the consumers of financial services.
In accordance with Section 27(5) of the FSA, BCBL shall cease to carry out the activity authorised under its licence but shall remain subject to the obligations of a licensee and to the directions of the Commission unless and until the suspension of the licence is cancelled. BCBL shall also cease trading in securities with immediate effect pursuant to Section 133 of the Securities Act 2005.
Source: FSC, Mauritius
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