Offshore: FSC Suspend the License of Ostermann Finanz Ltd.

10 years, 11 months ago - May 08, 2013

A third company operating in the financial sector has seen its suspended by the Financial Services Commission (FSC) license. Ostermann Finanz Ltd. operated for five years as a Management Company in the offshore sector.

The license of Ostermann Finanz Ltd, a company based in Epinay, Pamplemousses, has been suspended with immediate effect, Tuesday, May 7, by the FSC for failing to meet its obligations to take measures demanded by the regulator. The FSC had demanded corrective action in response to violations and deficiencies noted in the operations of the company.

"It is the reputation of our jurisdiction who was involved", said an official of the FSC.

On the website of the commission, Ostermann Finanz Ltd. is in the category of "Global Business" with no phone number and as "contact person" Soren Alexander Volkel.

Text by lexpress.mu

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