[SEE UPDATES BELOW]
(1) Disqualification & Removal from acting as Director of Blue Investment Bank Inc.
- Dario Item
- Andrea Mezzi
- Mauro Giacomo Silva
(2) Disqualification & Removal from acting as Principal Officer of Blue Investment Bank Inc
- Dario Item
(3) Restriction of Business of Blue Investment Bank Inc
*Note: Blue Investment Bank Inc, Dario Item, Andrea Mezzi and Mauro Giacomo Silva have obtained, on an ex-parte basis, Leave to file a Judicial Review application and a Stay Order against the above actions on 25 June 2019. Labuan Financial Services Authority is in the process of responding to the said application accordingly*
Update [24.3.2020]
Blue Investment Bank Inc. was imposed with an administrative penalty of RM10,000.00 with no action taken against the Directors. Blue Investment Bank Inc. has paid the penalty. Accordingly, the case has been settled administratively with no further actions to be taken against Blue Investment Bank Inc. Case closed, disqualification & removal from acting as Director and/or Principal Officer of Blue Investment Bank Inc, which was suspended by virtue of the above mentioned Stay Order of High Court, cease to be in effect on 24 March 2020. The Judicial Review Application is withdrawn with no liberty to file afresh and no order as to costs.
