Cease and Desist Order - Avia Investment Group Limited (2014-05-03)

Summary

This is an enforcement notice published by the British Virgin Islands Financial Services Commission (FSC) recording that a cease and desist order was issued against Avia Investment Group Limited. The order was made under section 37(2A)(a) of the Financial Services Commission Act, 2001 and directs the company to immediately stop carrying on all investment business in or from within the BVI.

• Action taken: Cease and desist order issued to Avia Investment Group Limited under section 37(2A)(a) of the Financial Services Commission Act, 2001.
• Requirement imposed: Avia Investment Group Limited must immediately stop conducting any investment business in or from within the BVI.
• Evidence required: The company must provide the Commission with evidence that it has ceased its investment business activities.
• Reference: Matter ID BF101113/206.

This is a public enforcement alert rather than a rule of general application: it applies specifically to Avia Investment Group Limited and serves to warn the public and industry that the named entity has been ordered to halt its investment business activities.

Key obligations

• Avia Investment Group Limited must cease and desist from carrying on all investment business in or from within the BVI with immediate effect.
• Avia Investment Group Limited must provide the Commission with evidence that it has ceased such investment business activities.

Applies to

investment business entities

Deadlines

• immediate effect: Cease and desist from carrying on investment business takes effect immediately upon issuance of the order.