Cease and Desist Order - Paxinvest.com Limited (2013-04-06)

Summary

This is an enforcement notice published by the BVI Financial Services Commission recording a cease and desist order issued against Paxinvest.com Limited, which operated an investment business under the name PaxForex. The order requires the company to immediately stop all investment business activity in or from the British Virgin Islands and to prove to the Commission that it has done so.

• Legal basis: Issued under section 37(2A)(a) of the Financial Services Commission Act, 2001.
• Subject: Paxinvest.com Limited, trading as PaxForex, in the Investment Business industry category.
• Effect: Immediate cessation of all investment business carried on in or from within the BVI.
• Follow up requirement: The company must provide the Commission with evidence that it has ceased the investment business activities.
• Reference: Matter ID ENF052413/086.

Key obligations

• Paxinvest.com Limited must cease and desist from carrying on all investment business in or from within the British Virgin Islands with immediate effect.
• Paxinvest.com Limited must provide the Commission with evidence that it has ceased carrying on such investment business activities.

Applies to

investment business operators, unlicensed/unauthorised investment business entities

Deadlines

• immediate effect: Cessation of all investment business activity by Paxinvest.com Limited takes effect immediately upon the order.