Administrative Penalty $1,400.00 - Reinsurance Solutions Ltd. (2017-02-17)

Summary

This is an enforcement notice published by the BVI Financial Services Commission announcing that it imposed an administrative penalty on Reinsurance Solutions Ltd. It records a completed enforcement action rather than creating any new ongoing rule or requirement for the wider industry.

• Penalty: A fine of $1,400.00 was imposed on Reinsurance Solutions Ltd.
• Legal basis: Imposed under sections 37(1)(a)(i) and 37(2)(f) of the Financial Services Commission Act, 2001.
• Contravention: For breach of regulation 2A(ii) of the Financial Services Commission (Fees) Regulations, 2010.
• Reference: Matter ID BF101113/386.

The notice is informational: it discloses a past enforcement outcome against a named entity and does not itself impose any new continuing obligation on other regulated entities.

Applies to

Reinsurance Solutions Ltd. (insurance/reinsurance entity)