FINANCIAL SERVICES REGULATORY COMMISSION
Division of Gaming

REGULATORY NOTICE

 BOS (Antigua) LTD
UNITED STATES CUSTOMERS

November 20, 2006

The Commission, wish to advise BOS (Antigua) Ltd, United States customers in principle and in accordance with Interactive Gaming and Interactive Wagering Regulation 123and its subsections, owners of accounts must have access to account balances at all times.   Therefore, if a customer is requesting to withdraw the balance on their account, Licensees are obligated to honour such a request in an expeditious manner. However, the Commission recognizes the extenuating circumstances surrounding BETonSPORTS Plc., (the parent Company of BOS (Antigua) Ltd) at this time and the difficulty it is posing for U.S. customers to obtain their account balances.

Albeit, BETonSPORTS Plc, made a formal announcement that it has withdrawn from the North American market place.  The Company further stated that “we are working with parties including the United States Department of Justice to effect an orderly close down of operations including the repayment of customer balances.”  On this basis, it is the Commission’s duty to ensure that BOS (Antigua) Ltd., recognizes their regulatory obligations under the Laws of Antigua and Barbuda and settle claims in order of priority.  

The Commission is very concerned in the manner BetonSports Plc, Board of Directors is presently conducting BOS (Antigua) Ltd closure with respect to customer balances and the said state of affairs generally.  Our concerns have been communicated to the Board of Directors and BOS (Antigua) Ltd resident office and agent.  We expect that all Licencees respect the Supervisory role of the Commission, however, if any of our Licencee prevents the Commission to carry out its Supervisory and regulatory functions under the Laws and Regulations through surreptitious activities the Commission will use the full extent of our Laws to ensure that the proper procedures and protocols are followed for the protection of employees, customers and the preservation of the jurisdiction’s integrity. 

The Commission also wishes to state that Claimants are afforded legal redress for their grievances through our judicial system by filing civil suits. 

 

********************