Public Statement 1 of 2024 - PROMARKETS FINANCE (2024-01-02)

Summary

This is a public warning notice issued by the BVI Financial Services Commission (FSC) under Section 37A of the Financial Services Commission Act, 2001. It alerts the public that an entity calling itself PROMARKETS FINANCE, operating via the website promarketsfinance.com, is falsely claiming to be licensed and regulated in the British Virgin Islands to operate an investment platform.

• Not licensed: PROMARKETS FINANCE is not a BVI company and has never been licensed or regulated by the FSC to carry on investment business or any other financial services business in or from the BVI.
• Public advisory: The FSC advises members of the public to exercise extreme caution and avoid conducting any business with PROMARKETS FINANCE.
• Call for information: The public is invited to report to the FSC any information about questionable entities purportedly operating in or from the BVI and any improper activities by such entities.

This notice is informational and protective in nature; it does not impose any ongoing compliance obligations on licensed entities and instead serves to warn consumers and the industry about a purportedly fraudulent operator.