Public Statement 17 of 2020 - YABO SPORTS AND ASIA GAMING (2020-10-21)

Summary

This is a public warning notice issued by the British Virgin Islands Financial Services Commission (FSC) on 21 October 2020, identifying an entity called YABO SPORTS AND ASIA GAMING that is purporting to be a BVI registered company offering investment business services to the public.

• Not licensed: YABO SPORTS AND ASIA GAMING has never been licensed or regulated by the FSC to carry on investment business or any other financial services business.
• Not registered: The entity is not a BVI registered company, despite purporting to be one.
• Regulated activity: Providing investment business services to the public is a regulated activity under BVI legislation and may only be carried out by an FSC licensed company.
• Public advisory: Members of the public are urged to exercise extreme caution if solicited by this entity and to report any relevant information about questionable entities to the FSC.

The statement was issued under Section 37A of the Financial Services Commission Act, 2001, and is informational in nature, intended to protect consumers rather than to impose ongoing regulatory obligations on licensees.

Applies to

general public, persons soliciting or considering investment business with unregulated entities