Administrative Penalty $9,000.00 - MG Management Services Limited (2015-03-17)

Summary

This is an enforcement notice published by the BVI Financial Services Commission announcing an administrative penalty imposed on MG Management Services Limited. It confirms a completed enforcement outcome rather than setting out any ongoing regulatory requirement.

• Penalty: An administrative penalty of $9,000.00 was imposed on MG Management Services Limited.
• Contravention: The company carried on investment business in or from within the Virgin Islands without holding a licence authorising that activity, in breach of section 4(1) of the Securities and Investment Business Act, 2010.
• Reference: Matter ID BF101113/250.

The notice is informational, documenting a past enforcement action against a specific named entity; it does not create new continuing obligations for other regulated entities, though it serves as a reminder that unlicensed investment business activity is subject to administrative penalties under the Act.

Applies to

investment business licensees, persons carrying on investment business