Embattled gold trading firm Menzgold has extended the suspension on the payment of dividend and activities regarding its gold vault to September 28,2018.
The initial suspension was to expire today, Wednesday September 19.
In a statement Menzgold said: “Following our correspondence with the Securities and Exchange Commission (SEC), we regret to advise that the Gold Vault Market product services will continue to be suspended until the 28th September, 2018 to enable us reach a useful conclusion with the Securities and Exchange Commission (SEC).”
The suspension became necessary after the SEC ordered the company to stop those operations over regulatory issues.
Meanwhile, a planned meeting between Menzgold and SEC Tuesday could not take place because the regulator insists on some information to make a decision on the operations of the gold firm.