Labuan, 28 August 2024: Labuan Financial Services Authority (Labuan FSA) was established under the Labuan Financial Services Act 1996 and a statutory body under the Ministry of Finance that serves, amongst others, as the central regulatory, supervisory and enforcement authority of the international business and financial services industry in Labuan.

In response to recent reports alleging that Labuan FSA has entered into a purported Memorandum of Understanding (MoU) with MPV Capitals Ltd, IDC Capital Sdn Bhd, and Eramas Trustee Bhd concerning the I-Asset Trust financial product, Labuan FSA wishes to clarify that it has no involvement in the launch of I-Asset Trust. Labuan FSA categorically denies having signed such MoU with the aforesaid companies.

Labuan FSA, as the registered proprietor of Labuan FSA’s name and logo, strictly emphasises that the usage of its name and logo requires prior approval from Labuan FSA. Any unauthorised use of Labuan FSA’s name and logo constitutes an infringement of the registered trademark under the Malaysian Trademark Act 2019.

As a regulatory authority, Labuan FSA only enters MoU with peer regulators to strengthen regulatory, enforcement, supervisory cooperation and facilitate the exchange of information between authorities to enforce or secure compliance with any laws, regulations relating to the functions and duties of the authorities in their respective jurisdictions. Labuan FSA does not enter into MoU with entities under its regulation to maintain its independence and impartiality, thereby avoiding any conflicts of interest.

Labuan FSA takes this matter very seriously and is actively conducting a thorough investigation. Labuan FSA is prepared to take stringent measures and legal action, if necessary, to safeguard its reputation and interests.

Labuan FSA urges the public to be cautious and rely solely on official communications from the Labuan FSA website for accurate and verified information.


Labuan Financial Services Authority
28 August 2024