The Securities and Exchange Commission (SEC) says Blackshield Capital Management’s investment product – the Cardinal Asset Master Trust is an unlicensed product.

Gold Coast Fund Management’s (GCFM) this year notified SEC to change its name to Blackshield which according to the Commission “did not require the approval of SEC.”

However, a statement from SEC said, “GCFML was directed to publish the name change in a specified manner but they have failed to do so.”

Credit: myjoyonline