Public Statement 18 of 2022 - B.O. TRADEFINANCIALS LTD. and DIGITALDAILYRETURN COMPANY (2022-10-06)

Summary

This is a public warning notice issued by the British Virgin Islands Financial Services Commission (FSC) about two entities, B.O. TRADEFINANCIALS LTD. and DIGITALDAILYRETURN COMPANY, which have been circulating forged investment business licences bearing the FSC's logo. The FSC confirms neither entity is registered, licensed or regulated to carry on investment business or any other financial services business in or from the BVI.

• Nature of the issue: The two entities have falsely claimed to be FSC licensed and authorised to deal in or arrange deals in investments, using forged licence documents bearing the FSC's logo.
• FSC position: The FSC states these entities have never been registered, licensed or regulated in the BVI for any financial services business.
• Public advice: Members of the public are advised to exercise extreme caution if solicited to conduct business with either entity.
• Reporting: The public is invited to give the FSC any relevant information about questionable entities purportedly operating in or from the Territory, or about improper activities by such entities.
• Legal basis: The statement is issued pursuant to Section 37A(2) of the Financial Services Commission Act, 2001.

This is an informational alert rather than a rule change; it does not impose new compliance obligations on regulated firms but warns the public and industry to avoid dealing with the named unauthorised entities.

Applies to

members of the public, B.O. TRADEFINANCIALS LTD., DIGITALDAILYRETURN COMPANY