Monday, July 27, 2009

New Warnings Published by the Commission

On July 10 - 13, 2009, the BVI FSC published several documents warning the public on firms that are not licensed to carry on business in or from the territory of the British Virgin Islands. Among the firms that are not authorized to carry on financial services business in BVI there are:
- SP Trade Investments Capital Ltd.
- SP Trader Management Company Ltd.
- Taurus Global Markets Ltd.
- iTrade Capital Markets Ltd.
- Marketiva Corporation
- Pro Finance Group Inc. (PFGFX)

The Commission advised the public to be cautious in transactions with the following companies which are not licensed to carry on banking or financial services business in BVI:
- MBC Financial Services Ltd.
- Multiple Banks Clearing (MBC FX)

The companies that are not licensed to carry on registered agent services business in the British Virgin Islands, and are not incorporated in the British Virgin Islands are:
- Gold-Tech (GT) Services Limited
- Kaizen Corporate Services Limited
- CC Logic LLC

Also, the FSC informed the public that European Direct International Insurance Limited is not licensed to carry on insurance business in or from within the territory, and is not registered or incorporated in the British Virgin Islands.

Advisory Warnings No. 10 - 18 of 2009 were issued under Section 4 (1) (l) of the Financial Services Commission Act, 2001, and signed by Robert A. Mathavious.

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