Avia Investment Group Limited - Public Statement No. 8 of 2014 (5 November 2014)

Summary

This is a public statement issued by the British Virgin Islands Financial Services Commission (FSC) warning that Avia Investment Group Limited (also operating as www.aviafx.com) is not and has never been licensed or regulated by the FSC to carry on investment business in or from within the Territory. It is an informational alert rather than a document that imposes ongoing regulatory requirements on licensees.

• Background: The FSC previously investigated the Company for carrying on unauthorised investment business in contravention of Section 4(1) of the Securities and Investments Business Act, 2010, and received no response to its enquiries.
• Cease and desist order: On 5 March 2014 the FSC issued a cease and desist order requiring the Company to immediately stop all investment business activities in and from within the Territory and to provide evidence that it had done so.
• Public warning: The FSC advises members of the public to exercise extreme caution in any dealings with the Company.
• Legal basis: The statement is issued pursuant to Section 37A(1) of the Financial Services Commission Act, 2001.

The FSC also invites the public to report information about other questionable entities purportedly operating in or from within the Territory. No new obligations are imposed on licensed financial services entities by this notice; it is directed at the public and at the named unlicensed entity.

Applies to

members of the public, unlicensed entities purporting to carry on investment business