Cease & Desist Order - Abadi & Co. Securities Ltd. (2012-10-09)

Summary

This is a public enforcement notice issued by the BVI Financial Services Commission announcing a cease and desist order against Abadi & Co. Securities Ltd. The order was issued under section 37(2A)(a) of the Financial Services Commission Act, 2001, and directs the company to stop carrying on investment business in or from the British Virgin Islands.

• Cease and desist: Abadi & Co. Securities Ltd must stop carrying on all investment business in or from within the Territory within a prescribed period.
• Evidence of compliance: The company must provide the Commission with evidence that it has ceased such investment business activities.
• Reference: The action is recorded under Matter ID INV0824/134 and classified under Industry Type: Investment Business.

The notice is purely an enforcement alert publicising the order; it does not create ongoing obligations for other market participants beyond the named company.

Key obligations

• Abadi & Co. Securities Ltd must cease carrying on all investment business in or from within the British Virgin Islands within the period prescribed in the order.
• Abadi & Co. Securities Ltd must provide the Commission with evidence that it has ceased its investment business activities.

Applies to

investment business licensees, securities firms

Deadlines

• within a prescribed period: Abadi & Co. Securities Ltd must cease all investment business activity within the period prescribed by the Commission's order (specific period not stated in this notice).