Administrative Penalty $10,000.00 - Alfa Forex Ltd. (2013-11-15)

Summary

This is a notice from the British Virgin Islands Financial Services Commission (FSC) publishing an enforcement action taken against Alfa Forex Ltd. It records that the Commission imposed an administrative penalty for carrying on investment business without authorisation.

• Penalty: An administrative penalty of $10,000.00 was imposed on Alfa Forex Ltd.
• Basis: The penalty was for contravention of section 4(1) of the Securities and Investment Business Act, 2010, by carrying on unauthorised investment business.
• Reference: Matter ID BF101113/178.

This is a historical enforcement disclosure rather than a rule of general application; it does not impose new ongoing obligations on other market participants but serves as public notice that unauthorised investment business activity was penalised.

Applies to

investment business