SEC

The Securities and Exchange Commission (SEC) has pointed out that the Ministry of Finance cannot be blamed for the delay in payment of bailout funds to affected customers of Gold Coast Fund Management Limited. According to the SEC, the delay in payment of bailout funds to the affected customers is not due to the refusal of the Ministry of Finance to provide funds. It rather said in a statement that “The delay is principally due to the legal action by Blackshield/Gold Coast contesting the liquidation petition brought by the Official Liquidator (Office of the Registrar of Companies) at the request…