UPME Group Ltd. - Advisory Warning No. 6 of 2013 (2013-03-13)

Summary

This is a public advisory issued by the BVI Financial Services Commission warning that UPME Group Ltd., a BVI business company operating an online forex trading platform at fxup.me, is not and has never been licensed or regulated by the FSC despite purporting to be regulated in the British Virgin Islands.

• Entity named: UPME GROUP LTD., operating at http://fxup.me/en, offering online forex trading
• Finding: UPME GROUP LTD. is not and has not at any time been licensed or regulated in the BVI by the FSC
• Public advice: Members of the public are advised to exercise extreme caution in conducting any transactions with this entity
• Legal basis: Issued under Section 4(1)(l) of the Financial Services Commission Act, 2001

The FSC also invites the public to report any information on questionable entities purportedly operating in or from the Territory, or on improper or illegal activities by such entities. This is an informational warning notice and does not itself impose ongoing compliance obligations on regulated entities.

Applies to

members of the public, unregulated forex trading entity (UPME Group Ltd.)