SEC Suspends Cowry Asset Management from Issuing House Activities

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The Securities and Exchange Commission (SEC) has announced the suspension of Cowry Asset Management Limited and its sponsored individuals for Issuing house activities.

According to a statements from the apex regulator in the capital market, the reason is due to the company failure to honour its underwriting obligation in accordance with Rule 318 (2) of SEC Rules and Regulations.

SEC is empowered under section 13 (n), 45, 303 of the Investment and Securities Act (ISA) 2007 and Rule and Regulation to protect the integrity of the capital market against all forms of abuses by sanctioning persons who violate the provisions of the Act and the Rule s and Regulations made pursuant thereto.

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