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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 (LL 01243)
3.12.2015
Revocation of License
2
Petchem International Trading Commodity (LL 09462)
3.12.2015
Revocation of License
3
Careful Line Ltd (LL 08251)
3.12.2015
Revocation of License
4
Asia Development & Investment Bank Ltd (LL 07549)
28.9.2017
Revocation of License
5
Quantum Wealth Group Ltd (LL 06579)
5.6.2017
Revocation of License
6
Cameron Asia Reinsurance Brokers Ltd (LL 07536)
3.12.2015
Revocation of License
7
EC Trust Labuan Ltd (LL 03637)
11.6.2013
Revocation of License
3.2.2017
Issuance of Warrant of Arrest issued against the Directors
8
Asean Union Foundation (LAF 00095)
8.10.2015
Compounded
14.12.2015
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 (LL 08360)
21.11.2017
Compounded
For further information, please contact:
Corporate Communication & External Relations Unit
Tel : 6087- 591 200/ 215
Fax : 6087-428 200
Email: communication@labuanfsa.gov.my
Labuan Financial Services Authority
14 February 2018
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