Vanuatu Financial Services Commission

Year 1993Regulated by Government

The Vanuatu Financial Services Commission (VFSC) was formally established in December 1993, after the Vanuatu Parliament enacted the Vanuatu Financial Services Commission Act No. 35 of 1993. Previous to this, the VFSC was the Registrar of Companies and the Official Receivership Department of the Treasury since 1971 under the then, British Administration and after independence in July 1980, the Ministry of Finance and Economic Management. The VFSC has set up four departments, namely Corporate Services, Legal Enforcement & Insolvency, Supervision and Registration.

Disclose broker

Sanction Permanent cessation of business / revocation of license

NEP AU

Disclosure summary

Disclosure matching Name matching
Disclosure time 2023-12-11
Reason for punishment The entity's licence is been revoked.

Disclosure details

Notice of Revocation of the Financial Dealers License.

Notice of Intention of Revocation of the Financial Dealer/s License Section 7A (5) of the Financial Dealers Licensing Act [Cap 70] Take notice that unless cause is shown to the contrary in the formof justified written objections, the Financial Dealers Licence issued to the Company NEPTUNE SECURITIES (V) LIMITED Will be revoked at the expiry of 14 days on the following grounds: (a)Failure to operate from a physical premises located in Vanuatu. (b)Failure to maintain the following systems: Filing system Management and Accounting System Business Continuity Plan Trading Platform (c)Failure to employ local manager. (d)Failure to provide to the Commissioner with such information as required from time to time. DATED this 11th day of December 2023. VANUATU BRANAN KARAE COMMISSIONER

Annex

Screenshot 1

More regulatory disclosure

Sanction

2023-02-17

Mega SecuritiesPunishment case against a joint stock company and its employees for violating securities management laws (Financial Securities Regulatory Commission No. 1110355411; Financial Guan Securities Penalty Commission No. 11103554111)