Cease & Desist Order - Benson Union Limited (2012-12-31)

Summary

This is a public enforcement notice from the British Virgin Islands Financial Services Commission announcing a cease and desist order issued against Benson Union Limited. The order was made under section 37(2A)(a) of the Financial Services Commission Act, 2001 and directs the company to immediately stop carrying on investment business in or from within the BVI.

• Order: Benson Union Limited must cease and desist carrying on all investment business in or from within the Territory with immediate effect.
• Follow-up requirement: Benson Union Limited must provide the Commission with evidence that it has ceased such investment business activities.
• Reference: Matter ID ENF1221/230, industry type Investment Business.

The notice is informational for the public and industry, identifying an entity found to be in breach and the regulatory action taken against it; it does not create ongoing obligations for other market participants.

Key obligations

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

Applies to

Investment Business (Benson Union Limited specifically)

Deadlines

• immediate effect: Benson Union Limited must cease all investment business activity in or from within the BVI immediately upon the order.