The Oman Financial Services Authority (FSA) revoked the licence of Trust Fund Management Company after the firm failed to meet core regulatory reporting obligations. The FSA cited the company’s failure to submit audited financial statements for 2023 and 2024 and its non-filing of capital-adequacy reports. The firm had previously been suspended but did not remedy the breaches. The FSA said the conduct violated Articles 168 and 168(b) of the Executive Regulation of the Capital Market Law, which require regulated entities to prepare and disclose quarterly and annual financial statements.
Oman Financial Services Authority 2025-04-17
Oman Financial Services Authority revokes Trust Fund Management Company’s licence for financial reporting and capital adequacy non-compliance
The Oman Financial Services Authority revoked the licence of Trust Fund Management Company for failing to meet regulatory reporting obligations, including audited financial statements for 2023 and 2024 and capital-adequacy reports. The firm, previously suspended, violated Articles 168 and 168(b) of the Executive Regulation of the Capital Market Law.