Enforcement Action

Enforcement Action: Administrative Penalty $7,500.00
Name of Entity: Prolifico Fund Management Ltd.
Date of Action: 12/13/2016
An administrative penalty in the amount of $7,500.00 was imposed on Prolifico Fund Management Ltd. for its contravention of the following legislation:

(a) section 11(2) of the Securities and Investment Business Act, 2010 (“SIBA”) for failing to obtain the Commission’s prior written approval for the acquisition by a third party of a significant interest in the licensee; and

(b) section 11(3)(a) of SIBA for permitting or acquiescing to the transfer by its shareholder of a significant interest in the licensee without obtaining the Commission’s prior written approval.