European Union National Clearance Agency - Advisory Warning No. 26 of 2013 (2013-12-13)

Summary

This is a public advisory issued by the British Virgin Islands Financial Services Commission warning about an entity calling itself the European Union National Clearance Agency. The entity has been offering financial clearing and settlement services while circulating a false certificate claiming BVI incorporation.

• Not registered: The FSC confirms the European Union National Clearance Agency has never been registered or incorporated as a company in the British Virgin Islands
• Not licensed: The entity has never been licensed by the FSC to carry on financial services business in or from within the Territory
• Public caution advised: Members of the public are advised to exercise extreme caution when conducting any transactions with this entity
• Reporting invited: The public is invited to provide the FSC with information on questionable entities or improper or illegal activities purportedly operating in or from the Territory

The warning is issued under Section 4(1)(l) of the Financial Services Commission Act, 2001, which empowers the FSC to alert the public to unauthorised or fraudulent financial services activity. It does not create ongoing compliance obligations for regulated entities but serves as an alert to the public and industry.

Applies to

general public