Sail Flagship Management Limited

A warning was issued to Sail Flagship Management Limited for its contraventions of: section 71(1) of the Securities and Investment Business Act, 2010 by failing to submit audited financial statements for the years 2010-2012 within the prescribed timeframe; and section 19(2) of the Banks and Trust Companies Act, 1990 and section 34(3) of the FSC Act, 2001 by appointing directors without the prior approval of the Commission