Public Statement 21 of 2020 - TELOSTRADE

PUBLIC STATEMENT

TELOSTRADE

Tortola, British Virgin Islands ("BVI") – 12th November 2020 - The British Virgin Islands Financial Services Commission (the "FSC") considers it necessary to issue this Public Statement in order to protect the customers,  creditors or persons who may have been solicited to conduct business by TELOSTRADE and to make the general public aware that the entity has never been licensed or regulated by the FSC to carry on any type of financial services business.

The details are:

TELOSTRADE is falsely purporting to be operating from premises at Pasea Estate, Road Town, Tortola, VG1110 British Virgin Islands for the purpose of carrying out payment transaction services. The entity purports to be connected to TELOSTRADE INVESTMENT SOLUTION which purports to be an investment business.  Such services are required to be licensed and regulated by the FSC.

The FSC hereby informs the public that TELOSTRADE and TELOSTRADE INVESTMENT SOLUTION are not and have never been licensed or regulated to carry on payment transaction, investment or any other type of financial services business, in or from within the British Virgin Islands.

Members of the public are advised to exercise extreme caution if solicited at any time to conduct business with TELOSTRADE or TELOSTRADE INVESTMENT SOLUTION.  The public is invited to provide the FSC with any relevant information on any questionable entities which are purportedly operating in or from within the Territory, and on any improper activities engaged in by such entities.

The FSC has issued this Public Statement pursuant to Section 37A of the Financial Services Commission Act, 2001.