CMDA: Lacking enforcement powers regarding scams

16 hours ago

Capital Market Development Authority (CMDA) states while the authority has the legal responsibility to investigate scam cases, it lacks enforcement powers. Speaking during state media, PSM’s ‘Raajje Miadhu’ program, CMDA’s CEO Mohamed Hussain Manik said the Authority’s mandate concerning scams is restricted to issues involving securities. As such, he explained that, under current laws and regulations, if a scam is not related