Tuesday, November 24, 2009

BVI FSC Issued Advisory Warnings on Financial Services Companies

On November 17, 2009, the British Virgin Islands Financial Services Commission published Advisory Warnings concerning two offshore companies. One of the documents issued under Section 4 (1) (l) of the Financial Services Commission Act, 2001 informs the public that the company named Golden Gate Education Ltd., also known as Golden Gate Ltd. and FinancerzWorld, is not licensed to conduct financial services business in or from within the British Virgin islands.

By the second document the BVI FSC warns the public that another company, FX World Online Ltd, is not licensed to carry on financial services business in or from within the territory.

The Commission advises the public to exercise extreme caution in conducting any transactions with FX World Online Ltd. and Golden Gate Education Ltd (also Golden Gate Ltd. and FinancerzWorld). The Advisory Warnings on these companies are the 23rd and 24th documents of this category in the year 2009.

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