Public Notice No. 11 of 2024 – JTS Investment Securities Ltd dba Loans By Phone

SECURITIES COMMISSION OF THE BAHAMAS
PUBLIC NOTICE
No. 11 of 2024 7 August 2024
RE: JTS INVESTMENT SECURITIES LTD dba
LOANS BY PHONE
This NOTICE is issued by the Securities Commission of The Bahamas (the Commission) pursuant to its authority under the Financial and Corporate Service Providers Act, 2020 (the Act). It has come to the attention of the Commission that JTS Investment Securities Ltd dba Loans By Phone is conducting activities, in or from within The Bahamas, that is either registrable/licensable or illegal under the Act. The Commission hereby advises the public that this entity and its agents/representatives are not registered with or licensed by the Commission. Therefore, any registrable/licensable activity conducted, in or from within The Bahamas, by this entity and its agents/representatives constitutes a violation the Act. BACKGROUND JTS INVESTMENT SECURITIES LTD was formerly licensed by the Commission under the Financial and Corporate Service Providers Act, 2000. The company engaged in the business of money broking under the name Loans By Phone. In December of 2020, the Act came into effect and repealed the Financial and Corporate Service Providers Act, 2000 (the repealed Act). The Act gave all existing licensees under the repealed Act, a six (6) month period to transition their license by submitting an application to be licensed under the Act. The Commission issued a Public Notice on 7 September 2023, therein outlining the above and formally revoking any licenses under the repealed Act. JTS INVESTMENT SECURITIES LTD failed to make this transition and otherwise does not have a licence to conduct any activity under the Act. Further, the entity has continued conducting its money broking operations, which is unlawful under the Act.

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WARNING
Individuals currently (or desirous of) conducting business with this entity or its agents/representatives, should be cognizant that they are doing so with an entity and/or its agents who are not authorized or regulated by the Commission. Listings of the Commission’s registrants and licensees that are authorized to engage in regulated activities, in or from within The Bahamas, are located on the Commission’s website at https://www.scb.gov.bs/registrant-licensee-search/ . Should you have any complaints and/or any information pertaining to this entity, please contact:
Enforcement Department
Securities Commission of The Bahamas
E-mail: info@scb.gov.bs or enfdept@scb.gov.bs .