Appeal Court finds FSC had no basis to seize SSL

The Court of Appeal has found that the Financial Services Commission (FSC) had no proper basis to seize Stocks and Securities Limited (SSL) in January 2023. “The FSC failed at this first hurdle,” Justice Kissock Laing wrote in the court’s judgment, handed down on Friday, “since these were predicated on a necessary foundation that was, in fact, non-existent.”