Cease and Desist Order - WBS Holding Ltd. (2013-04-06)

Summary

This is an enforcement notice published by the BVI Financial Services Commission recording a cease and desist order issued against WBS Holding Ltd. The order was made under section 37(2A)(a) of the Financial Services Commission Act, 2001, and directs the company to stop conducting investment business activities in or from the British Virgin Islands.

• Cease and desist: WBS Holding Ltd is ordered to cease and desist from carrying on all investment business in or from within the Territory, with immediate effect.
• Evidence of compliance: WBS Holding Ltd must provide the Commission with evidence that it has ceased such investment business activities.
• Reference: The matter is recorded under Matter ID ENF052413/088 and relates to the Investment Business industry type.

The notice is a public record of a completed enforcement action rather than a rule of general application; it does not create ongoing obligations for other regulated entities beyond WBS Holding Ltd itself.

Key obligations

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

Applies to

WBS Holding Ltd, investment business licensees/persons carrying on investment business

Deadlines

• immediate effect: WBS Holding Ltd must cease all investment business activity in or from the BVI with immediate effect.