GCI's Belize license revoked

GCI Financial, Belize based medium size broker, has lost its local license a few weeks ago for an unknown reason. GCI was registered with the International Financial Services Commission of Belize (ISFC).

All we have is the following laconic statement which doesn’t specify any reason for the revocation:

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International Financial Services Commission,

Sir Edney Cain Building,

Belmopan,

Belize, C.A.

26 January 2010

WARNING NOTICE

GCI FINANCIAL LTD

It isnotified for general information that GCI Financial Ltd is no longer licensed by the International Financial Services Commission of Belize (IFSC) to engage in Trading in Securities or to provide any other international financial services. GCI has indicated its intention to cease its operations in Belize and to relocate elsewhere.

All persons concerned are asked to take note of this announcement.

GIAN C. GANDHI

DIRECTOR GENERAL

International Financial Services Commission of Belize

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It remains to be seen what exactly caused this.