Concise Investments Limited - Public Statement No. 5 of 2014 (2014-11-05)

Summary

This is a public statement issued by the British Virgin Islands Financial Services Commission (FSC) warning that Concise Investments Limited is not, and has never been, licensed or regulated by the FSC to carry on investment business in or from within the Territory. It follows an FSC investigation that found the Company had been providing investment management and advisory services without the required licence, in contravention of Section 4(1) of the Securities and Investments Business Act, 2010.

• Background: The FSC investigated Concise Investments Limited for carrying on unauthorised investment business, finding it provided investment management and advisory services without a licence.
• Enforcement action taken: On 8 July 2014 the FSC issued a cease and desist order requiring the Company to immediately stop all investment business activities in or from within the Territory and to provide evidence that it had done so.
• Public warning: The FSC advises members of the public to exercise extreme caution in any dealings with Concise Investments Limited.
• Call for information: The public is invited to report to the FSC any relevant information on questionable entities operating in or from the Territory, or on improper or illegal activities by such entities.

The statement is issued under Section 37A(1) of the Financial Services Commission Act, 2001 and is purely informational; it creates no ongoing compliance obligations for licensed entities but serves as a public alert about an unauthorised operator.