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IFSC warns of unlicensed financial firms

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Posted: Wednesday, February 13, 2019. 10:00 am CST.

By BBN Staff: The International Financial Services Commission (IFSC) of Belize recently released a list of asset managers and binary options brokers that are no longer licensed to conduct business from Belize’s jurisdiction as of January 1, 2019.

The IFSC informed that it is a criminal offense for any unlicensed entity or firm to continue providing professional investment services to domestic or international clients without proper authorization. According to the IFSC, licenses are terminated for any number of reasons.

The IFSC has seen its share of unlicensed firms continuing to operate within the country and is making an effort to crack down on such entities. As the financial world continues to adapt to the growing demand for cryptocurrencies, many institutions are making the necessary adjustments. The IFSC is no exception, as the authority has already begun to monitor and assess crypto companies and their respective activity.

The regulatory body had previously reported that cryptocurrency promoter, OneLife Network, had been operating from the jurisdiction without authority to do so.

Below is a list of unlicensed firms, some of which have voluntarily relinquished their licenses and are not functional:

Agros Investments Limited

Allied Asset AG (Belize) Limited

Alpha Capital Management Limited

Always Rich Global Limited

Arosemena and Diaz Trust (Belize) Limited

ATC Services (Belize) Ltd.

Belize Offshore Formation Limited

Belize Offshore Incorporation Limited

Belize Offshore Solutions Limited

Bluemax Global Ltd.

Bondex Global Limited

BP Global Limited

Capital Market Solutions Inc.

Choice Trust Limited

CST Financial Services Ltd.

Delwyn Trading Limited

E-Pay Services Limited

Financials Worldwide Inc.

Finpro Holdings Inc.

FirstFX Global Limited

Fort Financial Services Ltd.

FX4WIN International Limited

FXGroup International Ltd.

G.E.B. Global Equity Brokers (Belize) Limited

Georgetown Administrative Services Limited

Green Investment House Corp.

IFA FX Ltd.

IIG Ltd.

IPCTRADE INC.

Keyforce Management Limited

Marigold Global Markets Corporation

Marilyn Williams

Maxi Services (Belize) Ltd.

MB Trust Limited

Mercury Limited

NPBFX Limited

OR Capital Ltd.

OWA Trust Ltd.

Pacific 2000 Securities Ltd.

PMA Agents Limited

Remit Now International Limited

Safe Gold International (Belize) Limited

Salma Markets Companies Corp.

Sandpiper Investments Limited

Servicios Bursátiles Internacionales Ltd

Stephen L. Thompson

Tyrsis Trust Limited

ZB Forex Ltd.

 

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