This notice is issued by the Isle of Man Financial Services Authority (“the Authority”) in accordance with the powers conferred upon it under Section 30 of the Financial Services Act 2008.
The Authority recently spoke to two Italian residents who had travelled to the Island seeking the registered office of an entity known to them as FVP Holdings with whom they had conducted high value investment business dealings.
Online searches for the aforementioned FVP Holdings and seemingly associated entity FVP Trade showed links to an address in Victoria Street, Douglas, Isle of Man, IM1 2LF and there is also reference to the company being headquartered in the Isle of Man
The Authority wishes to draw attention to the following observations:
The Authority has failed to establish any association between the entities FVP Trade or FVP Holdings and any genuine Isle of Man companies or businesses.
Those operating the potentially fraudulent entities FVP Trade and FVP Holdings have no obvious authority to claim that they operate in or from the address, 41 – 43 Victoria Street, Douglas, Isle of Man and as far as we can ascertain they are not known to anyone genuinely associated to that address
There is no company incorporated in the Isle of Man under the names of FVP Trade or FVP Holdings. They are not registered in the Isle of Man as a company incorporated elsewhere having established a place of business in the Isle of Man. Neither FVP Trade or FVP Holdings are registered as a business name in the Isle of Man
A search of all genuine companies incorporated, and business names registered in the Isle of Man can be conducted at https://services.gov.im/ded/services/companiesregistry/companysearch.iom
To offer the financial services to members of the public as described to the Authority, in or from the Isle of Man would require a licence issued by the Authority. There is no licence holder in the Isle of Man named either FVP Trade or FVP Holdings. A search of all entities licensed by the Authority can be found at:
Under the circumstances, the Authority is concerned that any person who has had contact with the entities FVP Trade and /or FVP Holdings and who claim to operate from the Isle of Man may potentially become the victim of fraud.
General advice on how to avoid becoming a victim to identity theft and advanced fee frauds can be found on the Action Fraud website at http://www.actionfraud.police.uk/ID and http://www.actionfraud.police.uk/fraud-az-advance-fee-fraud respectively.
Any persons who are already involved in any dealings with the potentially fraudulent entities FVP Trade and/or FVP Holdings should consider notifying their local Police, bringing to their attention the contents of this notice.
Anyone with general concerns concerning any individual or company holding themselves out as conducting a regulated activity in or from the Isle of Man without the requisite licence should contact the Enforcement Division at the Authority on +44 1624 689311 or by e-mail to email@example.com for advice.
Authority Reference: NR/06/2022