Public Statement - Smiths Gore and Son's Reserve Loan Company (2018-02-06)

Summary

This is a public statement issued by the British Virgin Islands Financial Services Commission (FSC) on 6 February 2018 warning that Smiths Gore and Son's Reserve Loan Company has never been licensed or regulated by the FSC to carry on any financial services business, and is not incorporated or registered in the BVI.

• Forged licence: The Company has been circulating a forged Investment Business Licence falsely purporting to be issued by the FSC.
• Associated website: The Company is connected to the website www.smithsgoreloan.com, which purports to offer online loan services to the public.
• No BVI presence: The Company has not been incorporated or registered within the Territory of the British Virgin Islands.
• Legal basis: The statement is issued pursuant to Section 37A(2) of the Financial Services Commission Act, 2001.

The FSC invites members of the public to provide it with any relevant information about this matter or about other questionable entities purportedly operating in or from within the BVI. The statement is a fraud warning rather than a rule imposing ongoing compliance duties on regulated entities.

Key obligations

• Members of the public are invited to report relevant information about the Company or other questionable entities to the FSC (voluntary, not a binding obligation).