Cease and Desist Order - Mika Holdings Inc. (2013-07-01)

Summary

This is a notice published by the British Virgin Islands Financial Services Commission (FSC) recording a Cease and Desist Order issued against Mika Holdings Inc. The order was made under section 37(2A)(a) of the Financial Services Commission Act, 2001, directing the company to immediately stop carrying on investment business in or from within the BVI.

• Order issued: Cease and desist order against Mika Holdings Inc., effective immediately.
• Legal basis: Section 37(2A)(a) of the Financial Services Commission Act, 2001.
• Scope: Requires the company to stop all investment business activity carried on in or from within the BVI.
• Follow up requirement: Mika Holdings Inc. must provide the Commission with evidence that it has ceased its investment business activities.
• Reference: Matter ID ENF1221/231, listed under the Investment Business industry type in the FSC's enforcement action alerts.

This is an enforcement notice specific to one named entity rather than a rule of general application; it does not create ongoing obligations for other regulated firms, but it signals the FSC's enforcement stance on unauthorised or non-compliant investment business activity.

Key obligations

• Mika Holdings Inc. must immediately cease carrying on all investment business in or from within the British Virgin Islands.
• Mika Holdings Inc. must provide the Commission with evidence that it has ceased its investment business activities.

Applies to

investment business licensees / persons carrying on investment business

Deadlines

• immediate effect: Cease and desist order takes effect immediately, requiring Mika Holdings Inc. to stop all investment business in or from within the Territory.