Sweeping new Securities and Commodities Authority client-centric rules seen by International Investment will put the 36 existing licenced financial consultancy firms on a one-year deadline to comply, while applications in the pipeline will be made void effectively putting a freeze on licences issued for at least 12 months. The SCA chairman's key decisions in the new ‘Regulations Manual of the Financial Activities and Status Regularization Mechanisms' are dated 9 May 2021, and the licenced firms must comply "within a period not more than one year from the date, in which this decision came...
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