ITI Trade Limited
18th July 2022ITI Trade Limited (trading as ITI Trade LTD.) (“the Company”)
On 18 July 2022, the Guernsey Financial Services Commission, acting pursuant to powers granted to it under the Financial Services Business (Enforcement Powers) (Bailiwick of Guernsey) Law, 2020, made an application to the Royal Court for an administration management order in relation to the Company, a company licensed under the Protection of Investors (Bailiwick of Guernsey) Law, 2020. The Commission felt it necessary to take these steps, in these particular circumstances, in order to protect the reputation of the Bailiwick as a financial centre and the interests of investors. The application was not contested by the Company, it being accepted by them that it was desirable that such an order be made.
As a result of the application, the Royal Court appointed Matthew Wright and Andrew Duncan, both of Leonard Curtis CI Limited, as Joint Administration Managers of the Company with effect from today.