Public Statement - QUILOXTRADE (2019-08-22)

Summary

This is a Public Statement issued by the BVI Financial Services Commission on 22 August 2019, warning the public that the entity Quiloxtrade is not licensed, registered, or regulated by the FSC to carry on investment business in or from the British Virgin Islands.

• Nature of concern: Quiloxtrade operates a website (www.quiloxtrade.com) falsely claiming to be authorised and licensed in the BVI to provide broker services through an electronic trading platform.
• FSC finding: Quiloxtrade has never been licensed or regulated by the FSC to carry on any financial services business, including investment business, in or from within the BVI.
• Public advisory: Members of the public are advised to exercise extreme caution in conducting any business with Quiloxtrade.
• Call for information: The FSC invites the public to report any relevant information about Quiloxtrade or other questionable entities purportedly operating in or from the Territory.
• Legal basis: The statement is issued pursuant to Section 37A of the Financial Services Commission Act, 2001.

This is a purely informational public warning rather than a rule or licensing requirement; it imposes no continuing compliance obligations on regulated entities.