WBS Holding Ltd. - Advisory Warning No. 22 of 2013 (14 June 2013)

Summary

This is a public advisory issued by the BVI Financial Services Commission warning that WBS Holding Ltd., which operates the website www.wbsholding.com offering online investments and forex trading products and services, is not licensed by the FSC to carry on investment business in or from within the British Virgin Islands.

• Unlicensed activity: WBS Holding Ltd. has never held a licence from the FSC to carry on investment business in or from within the Territory, despite offering online investment and forex-related trading services.
• Public caution: Members of the public are advised to exercise extreme caution when conducting any transactions with WBS Holding Ltd.
• Invitation for information: The FSC invites the public to report any relevant information on questionable entities purportedly operating in or from the Territory and on any improper or illegal activities by such entities.
• Legal basis: The advisory is issued under Section 4(1)(l) of the Financial Services Commission Act, 2001.

This is an informational public alert rather than a rule or licensing decision, and it does not impose ongoing compliance obligations on regulated entities; its purpose is to warn the public about an unlicensed operator.

Applies to

members of the public, unlicensed entities offering investment business