Public Statement 5 of 2022 - QFX TRADE LIMITED (2022-05-16)

Summary

This is a public warning notice issued by the British Virgin Islands Financial Services Commission (FSC) on 16 May 2022 concerning QFX TRADE LIMITED. The FSC states that QFX TRADE LIMITED has never been licensed or regulated to carry on investment business or any financial services business in or from the BVI, and that the entity is circulating a forged investment business licence while falsely claiming to be authorised by the FSC to deal in and arrange deals in investments.

• Nature of concern: QFX TRADE LIMITED is using a forged FSC investment business licence and falsely representing itself as licensed and regulated in the BVI.
• Regulatory status: QFX TRADE LIMITED has never been licensed or regulated by the FSC for any financial services business.
• Public advisory: Members of the public are urged to exercise extreme caution if solicited by QFX TRADE LIMITED and to report information on questionable entities or improper activities to the FSC.
• Legal basis: The statement is issued under Section 37A of the Financial Services Commission Act, 2001.

This notice is purely informational and protective in nature; it does not create ongoing regulatory obligations for licensed entities but warns the public and industry to avoid dealing with this unlicensed and fraudulent entity.

Applies to

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