ZAR Solutions Limited - Public Statement No. 9 of 2017 (2017-07-10)

Summary

This is a public warning notice issued by the British Virgin Islands Financial Services Commission (FSC) about ZAR Solutions Limited, a BVI-incorporated company believed to operate the website zarforex.com offering online forex trading and other investment-related products. The FSC states the company has never been licensed or regulated by it to carry on any financial services business and warns that its activities appear to breach BVI financial services legislation.

• Company identified: ZAR Solutions Limited, incorporated in the BVI on 21 July 2014, operating website zarforex.com (ZARFX).
• Concern raised: Believed to be conducting online forex trading and offering investment related products and services without the requisite FSC licence.
• Public advisory: Members of the public are advised to exercise extreme caution in dealing with ZAR Solutions Limited or ZARFX.
• Legal basis: Statement issued pursuant to Section 37A(2) of the Financial Services Commission Act, 2001.
• Call for information: The public is invited to provide the FSC with relevant information about this entity or other suspicious entities operating in or from the BVI.

This notice is informational and protective in nature; it does not itself impose compliance obligations on regulated entities but serves to warn the public and market participants about an unlicensed operator.

Applies to

unlicensed entities offering investment business/forex trading services, general public and potential customers/creditors of ZAR Solutions Limited