In a brief statement issued today, the Securities Commission (SC) said the company, which dealt in futures trading, had its capital markets services licence revoked on Sept 22.

“As part of the due process accorded to the company, it was given the opportunity to appeal against the SC’s decision,” the statement said.

However, no such appeal was submitted by the company.

The SC’s statement said the company had failed to comply with the minimum financial threshold requirement for its adjusted net capital since May 2021.

As a result, it’s licence was suspended the following month.