The Capital Markets Authority (CMA) has suspended the Money Manager license of Trade Sense Limited for ninety days, citing non-compliance with multiple regulatory requirements.

The suspension, which took effect on March 3, 2025, marks the latest enforcement action aimed at safeguarding investors and upholding integrity in the capital markets.

CMA Chief Executive Officer Wyckliffe Shamiah stated that the decision arose from the company’s failure to adhere to crucial regulations.

"The suspension is due to the failure by Trade Sense Limited to comply with various regulatory requirements, which undermines the duty to protect investors and foster market confidence," Shamiah said.

Since 2023, CMA has been engaging with Trade Sense Limited’s management to rectify a range of regulatory breaches, which include lapses in governance, financial compliance, Anti-Money Laundering controls, and operational standards.

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The authority’s intervention is backed by Section 13 B (4) of the Capital Markets Act, which empowers CMA to impose interim measures for up to three months if an activity poses a risk of irreparable damage to investors or the capital markets.

During the 90-day suspension, CMA will conduct a thorough review to assess whether to lift the restriction or impose further enforcement measures.

The outcome of this assessment will determine the next steps regarding Trade Sense Limited’s licence status.

A Money Manager, as defined by CMA regulations, is authorised to manage the online foreign exchange portfolios of individual or institutional investors in exchange for a fee based on assets under management.

However, such entities are not permitted to handle clients’ funds directly; instead, clients must deposit their funds into their own trading accounts with an online foreign exchange broker, granting the Money Manager trading access only.

CMA’s latest action underscores its commitment to enforcing regulatory compliance and ensuring that licensed entities operate within the legal framework to maintain market confidence.