PETALING JAYA: The Securities Commission (SC) has revoked the capital markets services licence (CMSL) of Mercury Asset Management Sdn Bhd (MAM) to conduct fund management from Nov 19, 2015.
“MAM’s CMSL was revoked under Section 72 of the Capital Markets and Services Act 2007 (CMSA) for breach of Section 61(4) of the CMSA due to MAM’s inability to comply with the resource requirements of key personnel stipulated in its conditions of licence,” it said in a statement.
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