Financial Services Commission has today, pursuant to Section 11 of the Financial Services (Investment and Fiduciary Services) Act cancelled the licences of the following licensed firms and persons ;
Gibland Secretarial Services Limited ; Licence No FSC00171B
Gibland Nominees Limited ; Licence No FSC00175B
Equity Nominees Limited ; Licence No FSC00174B
Equitar Management Limited ; Licence No FSC00172B
Gibter Management Limited ; Licence No FSC00173B
Cabor Trustees Limited ; Licence No FSC00430B
Meridian Trustees Limited ; Licence No FSC00890B
Marrache, Benjamin John Samuel ; Licence No FSC00736I
Marrache, Solomon S ; Licence No FSC00176I
The decision has been taken following an investigation into the affairs of the licensed entities and persons which in the opinion of the Commission have disclosed serious and persistent breaches of Gibraltar’s financial services legislation.
The Commission,while investigations continue, has taken immediate measures to safeguard the interests of the existing clients of these firms and has appointed Mr Frederick White Managing Director of Grant Thornton (Gibraltar) Limited of 6a Queensway, Gibraltar (Tel. 200 45502) as Authorised Administrator of all the above companies pursuant to the provisions of the Financial Services (Investment and Fiduciary Services) (Temporary Administration of Companies) Regulations 2010.
The Authorised Administrator will work closely with the clients of these firms in assisting them to transfer their business to other licensed entities at the earliest opportunity having regard to the particular needs of individual clients.
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