Administrative Penalty $26,000.00 - Laureola Advisors Inc. (2015-12-18)

Summary

This is an enforcement notice published by the BVI Financial Services Commission announcing that it imposed a $26,000.00 administrative penalty on Laureola Advisors Inc. The penalty relates to a past contravention and does not create ongoing obligations for other entities; it serves as a public record of enforcement action.

• Contravention: Laureola Advisors Inc. provided investment advisory services without holding the appropriate licence, contrary to section 4(1) of the Securities and Investment Business Act, 2010.
• Period of conduct: The unlicensed activity occurred between 12 February 2013 and 27 May 2015.
• Penalty: An administrative penalty of $26,000.00 was imposed on the company.
• Reference: The matter is recorded under Matter ID BF101113/289.

Applies to

persons or entities carrying on investment business without a licence, investment advisers