Sunday, March 3, 2024

Cotton concern

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An online investment scheme being run by a company purporting to be associated with Barbados’ cotton industry has the Financial Services Commission (FSC) concerned.
The FSC, which has regulatory oversight for the island’s securities sector, warned Barbadians to be “extremely cautious” about investing funds in Barbados Sea Island Cotton Ltd./BSC Ltd./BSC Inc., saying it was not a registered company.
The state agency issued its caution in the wake of information that the enterprise was inviting the public to invest in the island’s cotton industry by purchasing its shares via the Internet.
FSC acting chief executive officer (CEO), Warrick Ward, said in a media release that because BSC was unregistered, local investors were not protected under the law. (SC)

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