International Securities & Commodities Alerts Network (I-SCAN) - Loyal Bank Limited
| Warning ID: | 498 |
|---|---|
| National Competent Authority (NCA): | Gibraltar - Gibraltar Financial Services Commission |
| Date Published At IOSCO: | 2011-03-21 |
| Last Updated: | 2011-03-21 |
| NCA URL: | http://www.fsc.gi/enforcement/fscwarning0036.htm |
| Commercial Name: | Loyal Bank Limited |
| Additional Information: | The Financial Services Commission has today issued a warning to the public regarding Loyal Bank Limited. This follows several reports made to the FSC regarding persons claiming to represent Loyal Bank Limited calling or visiting regulated firms offering banking services and related promotional material. Loyal Bank Limited appears to be registered in St. Vincent and the Grenadines and is regulated to carry on banking activities in that jurisdiction. It is not however regulated by the FSC, nor licensed under the Financial Services (Banking) Act to carry on business as a credit institution in or from within Gibraltar. The FSC therefore urges the public to exercise appropriate caution in respect of this entity, whilst it continues its investigations. People are able to verify whether a firm is licensed by the Gibraltar FSC, by checking the "Regulated Entities" section on our website at http://www.fsc.gi/fsclists/categorysearch.asp. Any persons who are already involved in any dealings with the above entity and have concerns, should contact the Manager, Enforcement on +350 200 40283 or by e-mail to enforcement@fsc.gi |
