The British Virgin Islands Financial Services Commission (FSC) issued an advisory recently stating that it has found no record showing that an entity that purports to be headquartered in the BVI is really based here.
The FSC announced that it has been made aware that an organization calling itself St. World Trade Inc., has been offering investment products such as hedging, markets arbitrage, risk management and speculation purporting to be incorporated, licensed and regulated in the British Virgin Islands.
“As a result of the FSC’s enquiries, it would appear that this entity uses the aforementioned company and trading names, and offered its products and services through its website located athttps://www.tradingbanks.com/ and falsely claiming to be headquartered in the Territory,” the Commission stated in the advisory.
In fact, the FSC stated that it can confirm that St. World Trade Inc., has never been registered or incorporated as a company in the British Virgin Islands. It was also mentioned that St. World Trade Inc., has never been licensed by the FSC to carry on financial services business in or from within the Territory.
The Commission urged members of the public to exercise extreme caution if solicited at any time by or conducting any business with St. World Trade Inc.., and to also provide the FSC with any relevant information on this, and any other questionable entities that are purportedly operating in or from within the Territory.