MUSCAT : In compliance with the disclosure requirements of the Muscat Stock Exchange (MSX), the company shared key details of the resolution.
On February 19, 2025, following board approval, Fincorp submitted a formal request to the FSA for the suspension of its brokerage activities for a period of 18 months in order to rectify the company’s status.
Subsequently, on 16 March 2025, the company received the FSA’s Administrative Penalty Resolution, which mandates the permanent suspension of the following activities:
- Brokerage activities
- Marketing of Non-Omani Securities
- Research and Advisory Services
“The company is actively working to address the matters raised by the Financial Services Authority in the resolution and will continue to keep shareholders and clients informed of further developments,” Fincorp stated in its disclosure.
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