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Published: Friday February 3, 2012 MYT 5:41:00 PM
Pubel Bedford Capital under investigation by Labuan FSA
KUALA LUMPUR: The Labuan Financial Services Authority (FSA) is currently conducting an investigation on Pubel Bedford Capital Ltd pursuant to the relevant provisions of the Labuan Financial Services Authority Act 1996 and the Labuan Financial Services and Securities Act 2010 (LFSSA).
In a statement today, the Labuan FSA said Pubel was incorporated under the Labuan Companies Act 1990 to carry on trading and non-trading activities but not licensed under the LFSSA to provide credit facilities nor financial assistance to any person.
“In this regard, Pubel is not permitted to collect any deposits or receive any payments for any services in relation to providing credit facilities or financial assistance from any person(s),” it said.
Only Labuan banks or Labuan investment banks licensed under the LFSSA are allowed to carry on Labuan banking business or Labuan investment banking business, which may include providing credit facilities in, from or through the Labuan International Business and Financial Centre (IBFC), it said. - BERNAMA
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