Enforcement Action

Enforcement Action: Administrative Penalty $25,000.00
Name of Entity: Galloway Capital Management Ltd.
Date of Action: 2/16/2017

An administrative penalty in the amount of $25,000.00 was imposed on Galloway Capital Management Ltd. for its contravention of section 4(1) of the Securities and Investment Business Act, 2010 (“SIBA”) for carrying on or holding itself as carrying on investment business in or from within the Virgin Islands without holding a licence under the SIBA authorising it to carry on such business.