ECSRC investor alert

It has been brought to the attention of the Eastern Caribbean Securities Regulatory Commission (ECSRC) that an entity, ‘Anguilla Capital’ is soliciting deposits offering high rates of interest from its web site www.anguillacapital.com.

The investing public is informed that:
•    Anguilla Capital is not licensed by the Eastern Caribbean Securities Regulatory Commission to provide investment services in or from within Anguilla;

•    Information received suggests that Anguilla Capital is not registered or licensed by any regulatory authority in Anguilla, to provide any service in or from within Anguilla.

Furthermore:

•    Securities investments and deposits carrying relatively high rates of interest are unusual and the chance that an investor will lose the money invested in such products, is high;

•    Companies taking deposits and offering investment services in Anguilla and any member territory of the Eastern Caribbean Currency Union are required to be licensed by the relevant authorities;

•    Providers of investment services have a fiduciary responsibility to their customers.  As such, they must ensure that the rights of the investor are upheld.

These are, among others, the right to:
–    Ask for and Receive information from the company about the work history and background of the person handling your account, as well as information about the company itself;
–    Receive complete information about the risk, obligations and costs of any investment;
–    Understand the terms and conditions of transactions you undertake; and
–    Contact the Eastern Caribbean Securities Regulatory Commission or other financial services regulator to verify the status of a securities salesperson and the company and whether the product is permitted to be sold in the Eastern Caribbean Securities Market.

•    Investors are strongly advised to seek advice from a licensed person, banker, accountant, lawyer or similarly trained individual, before participating in investments and to inform the ECSRC of any invitations to participate in this or similar activity.

Please visit the ECSRC website at http://www.ecsrc.com for a list of licensees that operate within the Eastern Caribbean Securities Market.