FMA censures CTRL Investments for breaching NTA requirements due to an overseas institution's failure.

FMA censures CTRL Investments Limited for breaching its Derivatives Issuer licence obligations, failing to meet minimum Net Tangible Asset (NTA) requirements between March 2023 and March 2024. The breach resulted from an overseas electronic money institution's failure, which impaired assets held by CTRL and caused NTA erosion. CTRL must provide a plan to replenish NTA levels within 10 working days and daily NTA reporting until resolved.

July 19, 2024
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