CySec fines Sheltons Services Ltd
Announcement from CySec
The Cyprus Securities and Exchange Commission (‘CySEC’) wishes to inform all interested parties that:
1. On March 27, 2014 CySEC decided to impose a €5.000 fine to Sheltons Services Ltd (the Company) as it provided administrative services without the required license – contrary to article 5 of the Law Regulating Companies Providing Administrative Services and Related Matters of 2012 (the ASP Law).
2. The Company’s shareholder and director is Mr Ned Shelton who is living in Australia.
3. The Company’s website is http://www.sheltonsgroup.com/site/home.html
4. The Company held an office in Cyprus at 2 Romanos Str., 2nd floor, Office 201, Nicosia.
5. The Company has since CySEC’s investigation closed down the above office and amended its website by deleting any reference to the offering of administrative services to and from Cyprus.
6. As of April 15, 2014 the Company is banned from offering administrative services to and from Cyprus.
7. CySEC would like to warn interested parties that Sheltons Services Ltd is not authorised to offer administrative services to and from Cyprus.
8. CySEC will inform other foreign jurisdictions accordingly.
Source: CySec
