Bgo group Ltd - Public Statement No. 6 of 2018 (19 March 2018)

Summary

This is a public warning notice issued by the British Virgin Islands Financial Services Commission (FSC) concerning Bgo Group Ltd, a BVI business company that operated an online forex trading platform called AYAFOREX (ayafx.com). The FSC states it has information suggesting the company conducted online investment and trading business without ever having obtained a licence to carry on investment business in or from within the BVI.

• Unlicensed activity: Bgo Group Ltd operated the AYAFOREX website to conduct online investments and forex-related trading without the requisite FSC licence for investment business.
• Public warning: The FSC has never licensed Bgo Group Ltd to carry on investment business in or from within the BVI and advises the public to exercise extreme caution if solicited by or dealing with the company or AYAFOREX.
• Legal basis: The statement is issued under Section 37A of the Financial Services Commission Act, 2001.
• Call for information: Members of the public are invited to provide the FSC with any relevant information about Bgo Group Ltd or other questionable entities purportedly operating in or from within the BVI.

This is an informational alert rather than a rule or regulatory requirement; it does not impose ongoing compliance obligations on regulated entities but serves to warn the public and industry about an entity operating without proper licensing.

Applies to

members of the public, investment business licensees