SINGAPORE - CT Bright Investment is no longer allowed to continue its fund management business in Singapore after the Monetary Authority of Singapore revoked its capital markets services licence with effect from Dec 9.
CTBI did not start fund management activities within six months of the issuing of its licence, and did not seek an extension to commence its fund management business as required by the MAS. CTBI had also in 2018 breached its licence condition by not informing the MAS of the resignation of one of its two directors - who was the company's relevant professional and appointed representative.
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