Administrative Penalty $1,500.00 - Abacus Trust & Management Services Limited (2014-07-10)

Summary

This is a published enforcement notice from the BVI Financial Services Commission recording an administrative penalty imposed on Abacus Trust Management Services Limited. It is purely informational, disclosing an already-concluded enforcement action rather than creating new ongoing requirements.

• Penalty: A $1,500.00 administrative penalty was imposed on Abacus Trust Management Services Limited.
• Contravention: The penalty was for breaching section 17C(1) of the Banks and Trust Companies Act, 1990 by failing to submit its 2013 audited financial statements within the time specified in that Act.
• Reference: The matter is recorded under Matter ID BF101113/223.

The notice serves as a public record of the enforcement action and does not itself impose new obligations on other entities, though it underscores the Commission's requirement that licensed banks and trust companies submit audited financial statements on time.

Applies to

banks and trust companies