By NATION REPORTER
THE Securities and Exchange Commission (SEC) has reportedly backed an irregular and hostile takeover of Madison Financial Services (MFS) Plc without enforcing its market rules of seizure and mergers, thereby breaching its own set laws.
But SEC, in response to a press query, said “the Commission is constrained from responding to the query as it does not comment on regulatory matters.”
A disputed and unconfirmed group of non-executive directors has allegedly irregularly seized control of a listed financial services group on the Lusaka Securities Exchange CLICK HERE TO READ MORE
