Cease and Desist Order - Axis Trading Group Incorporated (2013-05-13)

Summary

This is an enforcement notice published by the BVI Financial Services Commission announcing that it issued a cease and desist order against Axis Trading Group Incorporated. The order was made under section 37(2A)(a) of the Financial Services Commission Act, 2001, directing the company to stop all investment business activity in or from within the British Virgin Islands.

• Order issued to: Axis Trading Group Incorporated
• Legal basis: Section 37(2A)(a) of the Financial Services Commission Act, 2001
• Effect: Immediate cessation of all investment business carried on in or from within the Territory
• Follow up required: The company must provide the Commission with evidence that it has ceased such investment business activities
• Matter reference: ENF050613/073

This is a specific enforcement action against a single named entity rather than a rule of general application, so it does not create ongoing obligations for other regulated firms.

Key obligations

• Axis Trading Group Incorporated must immediately cease and desist carrying on all investment business in or from within the British Virgin Islands
• Axis Trading Group Incorporated must provide the Commission with evidence that it has ceased such investment business activities

Applies to

Investment Business

Deadlines

• immediate effect: Cease and desist from carrying on investment business in or from within the Territory takes effect immediately