PN2011-7-Progressive-Management.pdf

Here are the key points summarized:

The Securities Commission of The Bahamas issued a public notice regarding Progressive Management Limited, which may be carrying out registrable activities under the Securities Industry Act.

• Progressive Management Limited is not a registered entity with the Securities Commission.
• The company holds itself out as an investment company promising large returns to investors and claims to be located in Nassau, Bahamas.
• However, the Commission's information indicates that the company never maintained a physical presence in this jurisdiction nor conducted business here except for customer service functions.
• The company has left the jurisdiction and continues its operations from another country.
• Anyone considering conducting securities business with Progressive Management Limited, its agents, or consultants should be aware of the risks and exercise extreme caution before engaging in transactions.
• Existing investors who are concerned about their transactions should contact Mr. Gawaine Ward at the Securities Commission of The Bahamas.