The following is a PUBLIC STATEMENT pursuant to section 68(1A)(c) of the Securities Act made
in the interest of the Securities market and in the public interest.
”The Financial Services Commission (“FSC”) is aware of public concern arising from the media’s
disclosure of a letter dated April 3, 2020, to the Ministry of Finance and the Public Service
accompanying the examination reports for six Securities Dealers.
The FSC wishes to clarify that it conducts routine examinations, and it is customary to identify
areas to be addressed.
It is important to note that the other entities referenced in the letter are adequately capitalized
and therefore above the benchmark Capital Adequacy Ratio. The FSC does not have a basis at
this time for any concerns regarding solvency at these entities.”