Administrative Penalty $13,000.00 - Shirley Trust Company Limited (2013-08-20)

Summary

This is an enforcement notice published by the BVI Financial Services Commission announcing that it imposed an administrative penalty of $13,000.00 on Shirley Trust Company Limited, a Class I Trust and Registered Agent licensee, for breaches of the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008.

• Penalty: $13,000.00 administrative penalty imposed on Shirley Trust Company Limited
• Breaches: Contraventions of sections 11(3A), 12, 20(4), 21(1), 31, 48(1) and 48(2) of the AML/TF Code of Practice, 2008
• Licence: Class I Trust and Registered Agent licence
• Reference: Matter ID COM040213/048

The notice is a public record of a completed enforcement action rather than a rule imposing ongoing requirements; it does not itself create new obligations for other licensees, though it signals the FSC's supervisory expectations under the AML/TF Code of Practice for trust and corporate service providers.

Applies to

Class I Trust and Registered Agent licensees, trust companies