Administrative Penalty $25,000.00 - QUIJANO & ASSOCIATES (BVI) LIMITED (2015-11-30)

Summary

This is an enforcement notice published by the British Virgin Islands Financial Services Commission announcing that it imposed an administrative penalty of $25,000.00 on Quijano & Associates (BVI) Limited. The penalty relates to breaches of the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008 identified during supervision (Matter ID BF101113/278). The notice is purely informational and records a completed enforcement action; it does not itself create new ongoing obligations for other entities.

• Section 19: Failing to properly engage in or undertake customer due diligence.
• Section 20(2) and (4): Failing to engage in proper enhanced customer due diligence.
• Section 21(1) and (2): Failing to review and keep up to date customer due diligence information in the required manner.
• Section 31(5): Failing to adequately ensure that an introducer reviews and maintains customer due diligence information as required.

The notice serves as a public record of the penalty and the specific AML/CFT Code provisions contravened, intended to inform industry and the public of the Commission's enforcement activity rather than to impose new compliance requirements.

Applies to

Quijano & Associates (BVI) Limited (trust and corporate services provider)