Regulatory Alerts2024-08-07
Added · Updated
Public Notice No. 10 of 2024 – GBS Gold Standard Bank Ltd d/b/a: GS Partners, Swiss Valorem Bank Ltd. et al
The Securities Commission of The Bahamas warns the public that GSB Gold Standard Bank Ltd, operating as GS Partners and Swiss Valorem Bank Ltd, along with associated entities, are not registered or licensed to conduct business in The Bahamas. The Commission states that any registrable or licensable activities conducted by these entities or their agents within the jurisdiction violate the Securities Industry Act and related legislation. The notice highlights that these entities operate a multi-level marketing program offering exaggerated returns through Meta Certificates and have been subject to warnings or cease and desist orders by multiple international regulators.