This archive report was first published on 16 August 2021.
On August 16, 2021, the Capital Markets Authority (CMA) accepted a notification from Ace Financial Advisory Services of its intention to cease operations.
As a result, the public has been given a 45-day window to raise any unresolved or outstanding issues with the firm.
According to a Gazette notice, CMA Chief Executive Wycliffe Shamiah stated that the license would stand revoked upon expiry of this period and with no notification received on any outstanding issues.
Ace Financial Advisory Limited, based in Mombasa, received its license to offer investment advisory services on June 29, 2018.
The firm, which was established based on Islamic Sharia Compliant modes of finance ideals, personal financial planning, and value-based investment, will cease operations once the revocation takes effect.
