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NOTIFICATION: Enforcement Actions taken by Labuan Financial Services Authority (Labuan FSA) on Labuan Licensed Entities
NOTIFICATION
Labuan Financial Services Authority (Labuan FSA) has taken enforcement actions on these Labuan Licensed Entities from December 2015 to February 2018.
Please be advised accordingly.
No.
Name of Entity
Date of Enforcement Action
Enforcement Action
1
HIH Casualty & General Insurance (Labuan) Limited
3.12.2015
Revocation of License
2
Petchem International Trading Commodity
3.12.2015
Revocation of License
3
Careful Line Ltd
3.12.2015
Revocation of License
4
Asia Development & Investment Bank Ltd
28.9.2017
Revocation of License
5
Quantum Wealth Group Ltd
5.6.2017
Revocation of License
6
Cameron Asia Reinsurance Brokers Ltd
3.12.2015
Revocation of License
7
EC Trust Labuan Ltd
11.6.2013
3.2.2017
Revocation of License
Issuance of Warrant of Arrest issued against the Directors
8
Asean Union Foundation
8.10.2015
14.12.2015
Compounded
Forfeiture of Assets under AMLATFAPUAA
9
Faidzan Hassan
14.9.2016- 2.2.2018
Suspended from acting as Trust Officer, Resident Director and Resident Secretary
10
Saba Capital Inc
21.11.2017
Compounded
For further information, please contact:
Corporate Communication & External Relations Unit
Tel : 6087- 591200/215
Fax : 6087-428200
Email: communication@labuanfsa.gov.my
Labuan Financial Services Authority
14 February 2018
Friends of
Labuan IBFC
