Cease and Desist Order - Blackstar Capital Management Limited (2013-08-04)

Summary

This is a cease and desist order issued by the BVI Financial Services Commission against Blackstar Capital Management Limited, directing it to stop carrying on investment business. It was issued under section 37(2A)(a) of the Financial Services Commission Act, 2001 and takes immediate effect.

• Cease and desist: Blackstar Capital Management Limited must cease and desist carrying on all investment business in or from within the British Virgin Islands, with immediate effect.
• Proof of compliance: The company must provide the Commission with evidence that it has ceased its investment business activities.
• Reference: The action is recorded under Matter ID ENF040213/052 and relates to the Investment Business industry type.

This is a targeted 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

• Blackstar Capital Management Limited must immediately cease carrying on all investment business in or from within the British Virgin Islands.
• Blackstar Capital Management Limited must provide the Commission with evidence that it has ceased such investment business activities.

Applies to

investment business, Blackstar Capital Management Limited

Deadlines

• immediate effect: Blackstar Capital Management Limited must cease all investment business activities immediately upon issuance of the order.