Business

SC revokes LT International Futures CMS licence

Commission says company failed to meet minimum financial threshold

Updated 3 years ago · Published on 26 Oct 2022 2:44PM

SC revokes LT International Futures CMS licence
The Securities Commission has revoked the capital markets services licence of LT International Futures (M) Sdn Bhd for failing to meet minimum financial threshold, effective September 22. – Wikipedia pic, October 26, 2022

KUALA LUMPUR – The Securities Commission (SC) has revoked the capital markets services licence (CMSL) of LT International Futures (M) Sdn Bhd for contravening its licence condition, effective September 22, 2022.

“As part of the due process accorded to the company, it was given the opportunity to appeal against the SC’s decision. No appeal was submitted by the company,” the SC said in a statement today.

It said LT International Futures, which dealt in derivatives, had failed to comply with the minimum financial threshold for its adjusted net capital since May 2021 and arising from this, has been suspended by the SC since June 2021.

“Under Section 72(2)(a)(iii) of the Capital Markets and Services Act 2007, the SC is empowered to revoke the licence of any CMSL holder if it contravenes any condition of the licence,” it added. – Bernama, October 26, 2022

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