Tuesday, May 12, 2009

BVI FSC Issues Advisory Warning No. 4 of 2009

Yesterday, the British Virgin Islands Financial Services Commission has issued an advisory warning No.4 of the year 2009. By this document, the Commission informed that A.M.B Ltd., A.M.B. Amerbank Limited, AMERBANK LIMITED and Antilles Merchant Offshore Bank are not licensed to conduct banking or offshore banking business or any financial services business in or from within the territory of the British Virgin Islands. Also, the named entities are not incorporated or registered in the jurisdiction.

The Commission advised the public to exercise caution in conducting any transactions with these entities, and reminded that they should always be contacted to verify the regulated status of any company, trying to be registered or authorised for work in BVI.

The document is issued under Section 4 (1) (1) of the Financial Services Commission Act, 2001, and signed by Managing Director/CEO of the Commission Robert Mathavious.

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