Regulatory Agencies

AAF MENA Ltd.: $5K Fine

Public Notice by the Abu Dhabi Global Market Financial Services Regulatory Authority that it has imposed a fine of $5,000 on AAF MENA Ltd. for regulatory breaches.

Gufur Hussain: Industry Ban

Public Statement by the Jersey Financial Services Commission announcing it has imposed a financial industry ban on Gufur Hussain, a.k.a. Ghafoor Hussain, for "a lack of integrity".

Best Re (L) Ltd.: Winding Up Notice

Public Notice by the Labuan Financial Services Authority that a court in Malaysia has ordered the winding up of Best Re (L) Limited.

Accounts for All Ltd.: Registration Revocation

Public Statement by the Isle of Man Financial Services Authority that it has revoked the registration of Accounts For All Limited. Editor's Note: Research by OffshoreAlert in the Isle of Man Companies Registry showed that Accounts For All Limited was incorporated on September 15th, 2003 and, in its last annual report, for 2017, its directors and shareholders were identified as James John Murphy Forbes, a British accountant, and Angela Michelle Forbes, also British, both of the Isle of Man, the latter of whom resigned as a director effective May 8th, 2019.

Gil Beserglik et al: Industry Bans

Administrative Order by the U. S. Securities and Exchange Commission imposing industry bans on Gil Beserglik, 64, a citizen of Israel; Raz Beserglik, 35, a citizen of Israel, and Kai Christian Petersen, 53, a citizen of Germany, regarding their involvement in binary options brokers.

James Ellwood: Revocation

Public Statement by the Isle of Man Financial Services Authority regarding the revocation of the registration of James Ellwood, an English lawyer, for regulatory breaches.

Prior Capital Cy Ltd.: €100K Settlement

Public Notice by the Cyprus Securities and Exchange Commission that "executive Board Members" Konstantin Yasnov, Vladimir Zalogin, and Ekaterina Zalogina have paid €100,000 to settle a regulatory investigation into Prior Capital Cy Ltd.

S&P Dow Jones Indices LLC: $9M Fine

Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $9 million on S&P Dow Jones Indices LLC for regulatory breaches involving Credit Suisse AG, of Switzerland.

Merkanti Bank Ltd.: €259K Fine

Public Notice by the Malta Financial Intelligence Analysis Unit that it has imposed a fine of €259,927 on Merkanti Bank Limited, formerly MFC Merchant Bank Limited, for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Malta Business Registry showed that Merkanti Bank Limited was incorporated on June 17th 2003, its directors are Christian Farrugia, a citizen of Malta; Friedrich Hondl, a citizen of Austria; Otto Karasek, a citizen of Austria; Samuel Morrow, a citizen of the United States, and George Portanier, a citizen of Malta, and its shareholders are Merkanti Holding Plc, of Malta, and Scully Royalty Ltd., of the Cayman Islands. Merkanti Holding Plc was incorporated on May 28th, 2015, its directors are Mario P. Galea, a citizen of Malta; Samuel Morrow, Benjamin Muscat, a citizen of Malta; Silke Stenger, a citizen of Germany, and Martin Ware, a citizen of the United Kingdom, and its shareholders are Merchants Employees Incentive Corp., of the Marshall Islands; Scully Royalty Ltd., and MFC 2017 II Ltd., of the Cayman Islands. The Cayman Islands General Registry showed that Scully Royalty Ltd.'s directors are Dr. Shuming Zhao, Friedrich Hondl, Indrajit Chatterjee, Jochen Dümler, Michael J. Smith, and Silke S. Stenger. There was no record of any company with the name MFC 2017 II Ltd. when OffshoreAlert searched the Cayman companies register.

Keith Hammond: Disqualification

Public Notice by the Guernsey Financial Services Commission that it has imposed "prohibition orders" against Keith Laurence Hammond "for failing to provide information to the Commission (initially via an Online Personal Questionnaire and subsequently in correspondence), that was full, frank and unambiguous, in relation to the circumstances surrounding his resignation from previous employment".

Intertrust Corporate Services (Cayman) Ltd.: CI$4.2M Fine

Public Notice by the Cayman Islands Monetary Authority that it has imposed a fine of CI$4.2 million on Intertrust Corporate Services (Cayman) Limited for breaches of the Anti-Money Laundering Regulations (2020 Revision). Editor's Note: Research by OffshoreAlert in the Cayman Islands General Registry showed that the directors of Intertrust Corporate Services (Cayman) Limited were identified as Colin Mackay, Daniel Rewalt, and Elizabeth Harrington.

Harold Burke: Cease and Desist

Public Notice by the Swiss Financial Market Supervisory Authority that it has issued a Cease and Desist order against Harold Burke, a citizen of the United Kingdom.

Claude Rebetez: Cease and Desist

Public Notice by the Swiss Financial Market Supervisory Authority that it has issued a Cease and Desist order against Claude Rebetez, of Switzerland.

Emirates Advocates LLP: $10K Fine

Public Notice by the Abu Dhabi Global Market Financial Services Regulatory Authority that it was imposed a fine of $10,000 on Emirates Advocates LLP for regulatory breaches.

Peter DeCaprio: $75K Fine

Administrative Order by the U. S. Securities and Exchange Commission imposing sanctions, including a fine of $75,000, on Peter J. Decaprio, of Boston, Massachusetts, for regulatory breaches involving, inter alia, an "unregistered fund" in the British Virgin Islands.

Crowe Mak LLP: $5K Fine

Public Notice by the Abu Dhabi Global Market Financial Services Regulatory Authority that it has imposed a fine of $5,000 on Crowe Mak LLP for regulatory breaches.

Sapien Capital Ltd.: £178K Fine

Final Notice by the United Kingdom's Financial Conduct Authority that it has imposed a fine of £178,000 on Sapien Capital Limited for regulatory breaches. Editor's Note: Research by OffshoreAlert at Companies House for England and Wales showed that Sapien Capital Limited was incorporated on October 24th, 2007 and its directors and controlling persons are Ramesh Kumar Ahuja, a citizen of India, and Aditi Aggarwal, an Indian chartered accountant, while the company's website identifies its "Team" as Ramesh Kumar Ahuja, "CEO and Director"; Aditi Aggarwal, "Director", and Matthew Hill, "Head of Compliance and MLRO".

Port Royal Reassurance Company SPC Ltd.: License Revocation

Decision Notice by the Cayman Islands Monetary Authority revoking the license of Port Royal Reassurance Company SPC Limited. on the grounds of insolvency. Editor's Note: Research by OffshoreAlert in the Cayman Islands General Registry showed that the sole director of Port Royal Reassurance Company SPC Limited was identified as Steven Fickes, who, according to CIMA's Decision Notice, resides in Bethesda, Maryland, USA. Port Royal Reassurance Company SPC is a defendant in a civil complaint filed at federal court in North Carolina in 2016 involving an allegedly fraudulent scheme, for which one of its business partners, Bradley Reifler, of New York, was criminally indicted.

World Credit Solutions Ltd.: $5K Fine

Public Notice by the Abu Dhabi Global Market Financial Services Regulatory Authority that it has imposed a fine of $5,000 on World Credit Solutions Ltd., which claims on its website at www.worldcredit.solutions to offer "regulatory compliance services", for regulatory breaches, including a failure to "be open and cooperative in all its dealings with the Regulator". Editor's Note: Research by OffshoreAlert in the National Economic Register of the United Arab Emirates showed that World Credit Solutions Ltd. was incorporated on April 19th, 2018 and operated as a "management consultancy" and "compliance consultancy". No information about the company's officers, directors, or shareholders was available on the NER or on the firm's website and the ownership of its domain name is concealed using a privacy service.

Blackmore Global PCC: Unlicensed Activity

Public Announcement "in the public interest" by the Isle of Man Financial Services Authority that Blackmore Global PCC Limited "has been operating as an open-ended investment company" without being licensed. Editor's Note: Research by OffshoreAlert in the Isle of Man Companies Registry showed that Blackmore Global PCC Limited was incorporated in the Isle of Man on September 27th, 2013 and, in its most recent annual return, for 2019, its directors were identified as Phillip Andrew Nunn, of Altrincham, Cheshire, England, and Patrick Michael McCreesh, of Gerrards Cross, Buckinghamshire, England. A former director is Brian Peter Weal, of Cadiz, Spain, who resigned effective May 29th, 2015 - seven days after he was exposed as a fraudster by OffshoreAlert.

TeleTrade-DJ International Consulting Ltd.: €120K Settlement

Public Notice by the Cyprus Securities and Exchange Commission that TeleTrade-DJ International Consulting Ltd., whose website states that it operates as an investment firm and forex broker, has paid €120.000 to settle a regulatory investigation. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that TeleTrade-DJ International Consulting Ltd. was incorporated in Cyprus on September 1st, 2010 and its directors are Nikolas Leventis, Inna Leonova, Giannakis Georgiou, and Giorgos Konstantinidis.

Em@ney Plc: €359K Fine

Public Notice by the Malta Financial Intelligence Analysis Unit imposing a fine of €359,339 on Em@ney Plc, described as a "financial institution", for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Malta Business Registry showed that Em@ney Plc was incorporated in Malta on June 14th, 2012, its directors are Germano Arno, a citizen of Italy, and Konstantin Balassopulos, a citizen of Austria, former directors include Nicola Mattocks, who resigned effective October 22nd, 2020, and its shareholders are Malta-domiciled Absolute Holding Limited, whose sole director is Francesco Malandrino, a citizen of Italy, and whose shareholder is Trident Trust Company (Malta) Limited, and Malta-domiciled Tyke Holding Limited, whose sole director is Germano Arno and whose shareholder is Trident Trust Company (Malta) Limited.

Sarah Jayne Sarre: £13.5K Fine

Public Notice by the guernsey Financial Services Commission that it has imposed a fine of £13,500 on Sarah Jayne Sarre for "her failure to meet the minimum criteria for licensing".

Tumas Gaming Ltd.: €233K Fine

Public Notice by the Malta Financial Intelligence Analysis Unit that it has imposed a fine of €233,156 on Tumas Gaming Limited, described as a "Land Based Casino", for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Malta Business Registry showed that Tumas Gaming Limited was incorporated in Malta on March 24th, 1998, its directors are Emmanuel Fenech, Raymond Fenech, and Ray Sladden, all of Malta, its former directors include Yorgen Fenech, who resigned effective November 12th, 2019, and its shareholders are Tumas Group Company Limited and Tumas Group Management Company Limited, both of Malta. Tumas Group Company Limited's directors are Emmanuel Fenech, Franco Fenech, and Raymond Fenech and its shareholders are Yorgen Fenech, TGI Limited, of Malta; Anna Fenech, Carmen Fenech, Franco Fenech, Josephine Fenech, Moira Fenech, Patricia Fenech, and Raymond Fenech, and Tumas Group Management Company Limited's directors are Emmanuel Fenech and Raymond Fenech and its shareholders are Spinola Investments Ltd. and Tumas Group Company Limited, both of Malta.

Invoke Accounts Ltd.: Regulatory Action

Public Notice by the Isle of Man Financial Services Authority regarding regulatory action against Invoke Accounts Limited. Editor's Note: Research by OffshoreAlert at the Isle of Man Companies Registry showed that Invoke Accounts Limited, f.k.s. Best Accounts Limited, f.k.s. IOM BestPay Limited, was incorporated in the Isle of Man on January 7th, 2013 and, in its annual return for 2021, its directors were identified as Lloyd Duwa, a Zimbabwean accountant; David Tarpey, a British accountant, and Richard Stephen McAleer, an Irish "Finance Manager", and its sole shareholder was Centurion Group Limited, of the Isle of Man. Prior annual returns show that former directors include Peter Morris Adamson, a citizen of the United Kingdom; Samantha Cubbon, a citizen of the United Kingdom, and Nathan Cafearo, a British "Marketing Consultant" and former shareholders include Acervus Holdings Limited, Best Group International Limited, and Best Holdings Limited, all of the Isle of Man.

Zenith Finance Ltd.: Administration

Public Notice by the Malta Financial Services Authority that an administrator has been appointed for Zenith Finance Limited. Editor's Note: Research by OffshoreAlert at the Malta Business Registry showed that Zenith Finance Limited, formerly known as MFSP Financial Management Limited, was incorporated in Malta on November 2nd, 2007, its directors are Lorraine Falzon and William Charles Van Buren, both citizens of Malta; its former directors include Matthew Pace, a citizen of Malta, who resigned effective March 8th, 2021, and André Micallef, who resigned effective August 24th, 2017, its shareholders are Matthew Pace and Lorraine Falzon, and its auditor, Nexia BT, resigned effective November 16th, 2020.

Credit Suisse: Swiss Enforcement Proceedings

Press Release by the Swiss Financial Market Supervisory Authority that it has "opened enforcement proceedings against Credit Suisse after the bank suffered significant losses in connection with a US hedge fund ("Archegos")" and "opened proceedings against the bank in the context of the 'Greensill' case in March 2021".

Greins Global Ltd.: Winding Up Notice

Public Notice by the Bermuda Monetary Authority that it "successfully petitioned the Supreme Court of Bermuda to wind up Greins Global Ltd.", which was described as "a Class 1 insurer". Editor's Note: The Directors Register section of the Government of Bermuda's website identified the sole director of Greins Global Limited as Randeep S. Grewal, of Hong Kong.

Money + Card Payment Institution Ltd.: €404K Fine

Public Notice by the Malta Financial Intelligence Analysis Unit that it has imposed a fine of €403,947 on Money + Card Payment Institution Limited for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Malta Business Registry showed that Money + Card Payment Institution Limited was incorporated in Malta on July 27th, 2015, went into liquidation on June 13th, 2019, has no current directors, its former directors include Zoltan Bota, who resigned effective May 11th, 2019; Terry Galea, of Malta, who resigned effective May 14th, 2019; Franco Falzan, of Malta, who resigned effective May 9th, 2019, and Dmitrij Kozelkin, of Hungary, who resigned effective August 9th, 2018, and its shareholders are Viktor Hujber, a citizen and resident of Hungary, and Prifolio Holding Limited, which was incorporated in Malta on September 16th, 2010, whose sole director is Otto Hujber, and whose shareholders are Otto Hujber and Viktor Hujber,

MC Trustees (Malta) Ltd.: €160K Fine

Public Notice by the Malta Financial Services Authority that it has imposed a fine of €160,000 on MC Trustees (Malta) Limited for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Malta Business Registry showed that MC Trustees (Malta) Limited was incorporated in Malta on December 11th, 2009, its directors are Noel Buttigieg Scicluna, of Malta; William Daniel Dane, a citizen of the United Kingdom residing in Portugal, and Edward Thorpe, a citizen of the United Kingdom residing in Malta; its former directors include Martin Cadman, a citizen of the United Kingdom who resigned effective December 24th, 2019, and its shareholders are Christine Rhoda Grace Dane, a citizen of the United Kingdom residing in Portugal; William Dane, and MC Holdings (Malta) Limited, a Maltese company incorporated on March 14th, 2011 whose sole director is Martin Cadman and whose shareholders are Martin Cadman and Basi & Basi Financial Planning Limited, a British firm whose sole director is Michael Sudagar Basi, a citizen of the United Kingdom, and whose "persons with significant control" are Basi and Brite Advisory Group Limited, of Hong Kong.

Remus Horizons PCC Ltd.: Registration Suspension

Public Notice by the Guernsey Financial Services Commission that it has suspended the registration of Remus Horizons PCC Limited, which was described as "closed ended collective investment scheme".

Meridian Gaming Ltd.: €89K Fine

Public Notice by Malta's Financial Intelligence Analysis Unit that it has imposed a fine of €88,937 fine on Meridian Gaming Limited for regulatory breaches. Editor's Note: Research by OffshoreAlert in the Malta Business Registry showed that Meridian Gaming Limited was incorporated in Malta on May 9th, 2007, its sole director is Zoran Milosevic, of Serbia, previous directors include Anthony Axisa, who resigned effective September 15th, 2020, and Andjelina Rajacic, who resigned effective March 13th, 2019, and its shareholders are Aleksandr Milovanovic, of Serbia, and Meridian Gaming Holdings Ltd., the latter of which was incorporated in Malta on May 16th, 2016 and whose directors are Zoran Milosevic and Snezana Bozovic, of Serbia, and shareholders are Meridian Tech d.o.o., of Serbia; Zoran Milosevic, Snezana Bozovic, and Aleksandr Milovanovic.

Roger Parry: Disqualification

Prohibition Order by the Guernsey Financial Services Commission against Ian Roger Parry, of St Saviour, Guernsey.

Roger Parry: News Release

News Release by the Guernsey Financial Services Commission announcing penalties against Ian Roger Parry.

Locke Capital Investments (BVI) Ltd. et al: Orders

Public Notice by the Securities Commission Malaysia that "the Kuala Lumpur High Court declared in favour of the SC" against RBTR Asset Management Berhad, of Malaysia; Locke Guaranty Trust Limited, of New Zealand; Locke Capital Investments (BVI) Ltd., of the British Virgin Islands; Isaac Paul Ratnam, Nicholas Chan Weng Sung and Joseph Lee Chee Hock.

OANDA Corp.: $200K Settlement

Decision by the National Futures Association that OANDA Corporation, described as a "forex dealer member, futures commission merchant, retail foreign exchange dealer and forex firm headquartered in Toronto, Canada", has "agreed to pay a fine of $200,000" to settle a regulatory investigation.

John Robilliard: Disqualification

Prohibition Order by the Guernsey Financial Services Commission against John Adam Robilliard, of St Martin, Guernsey.

Christopher Shaw: Disqualification

Prohibition Order by the Guernsey Financial Services Commission against Christopher Henry Shaw, of Glentrool Forest, South Ayrshire, Scotland.

Christopher Shaw et al: News Release

News Release by the Guernsey Financial Services Commission announcing penalties against Christopher Henry Shaw, John Adam Robilliard, and Bruce David McNaught.

VPR Safe Financial Group Ltd.: €100K Settlement

Public Notice by the Cyprus Securities and Exchange Commission that VPR Safe Financial Group Limited has paid €100,000 to settle a regulatory investigation. Editor's Note: Research by OffshoreAlert at the Cyprus Registrar of Companies showed that VPR Safe Financial Group Limited was incorporated in Cyprus on May 13th, 2013 and its directors are Kostas Leonida, Andreas Kolonas, Agamemnon Ioannides, Yael Kleinman, and George Skordis.

Paul Everitt: Disqualification

Prohibition Order by the Guernsey Financial Services Commission against Paul Michael Everitt, of St Martin, Guernsey.

Paul Everitt: News Release

News Release by the Guernsey Financial Services Commission announcing the disqualification of Paul Michael Everitt.

Zenith Finance Ltd.: Directives

Public Notice by the Malta Financial Services Authority that it has imposed directives on Zenith Finance Limited, including an order that it must accept no new clients, and appointed Stephen Paris as its manager due to regulatory breaches. Editor's Note: Research by OffshoreAlert at the Malta Business Registry showed that Zenith Finance Limited, formerly known as MFSP Financial Management Limited, was incorporated in Malta on November 2nd, 2007, its directors are Lorraine Falzon and William Charles Van Buren, both citizens of Malta; its former directors include Matthew Pace, a citizen of Malta, who resigned effective March 8th, 2021, and Andre Micallef, who resigned effective August 24th, 2017, its shareholders are Matthew Pace and Lorraine Falzon, and its auditor, Nexia BT, resigned effective November 16th, 2020.

Zenith (Tied Insurance Intermediary) Ltd.: Directives

Public Notice by the Malta Financial Services Authority that it has imposed directives on Zenith (Tied Insurance Intermediary) Limited, including an order that it must accept no new clients, and appointed Stephen Paris as its manager due to regulatory breaches. Editor's Note: Research by OffshoreAlert at the Malta Business Registry showed that Zenith (Tied Insurance Intermediary) Limited was incorporated in Malta on August 6th, 2018, its directors are Lorraine Falzon and Albert Grech, both citizens of Malta; a former director is Matthew Pace, a citizen of Malta, who resigned effective March 8th, 2021, and its shareholders are Matthew Pace and Lorraine Falzon, and its auditor, Nexia BT, resigned effective November 16th, 2020.

Zenith Finance Ltd. et al: Public Notice

Public Notice by the Malta Financial Services Authority that it has taken action against Zenith Finance Limited and Zenith (Tied Insurance Intermediary) Limited.

CIMA ‘Decision Notice’: ‘Non-Compliant’ Directors

Decision Notice by the Cayman Islands Monetary Authority cancelling the registrations of 1,283 "registered directors" for being "non-compliant with the Directors Registration and Licensing Act, 2014 (as amended)".