Administrative Penalty $4,500.00 - The Wesley Company Limited (2013-05-21)

Summary

This is an enforcement notice published by the British Virgin Islands Financial Services Commission (BVI FSC) recording an administrative penalty imposed on The Wesley Company Limited, a Banking and Fiduciary Services licensee. It does not create new rules; it publicises a specific sanction already imposed for a past compliance failure.

• Penalty: An administrative penalty of $4,500.00 was imposed on The Wesley Company Limited.
• Contravention: The penalty relates to a breach of section 4(1) of the Financial Services (Prudential and Statistical Returns) Order, 2009, for failing to file required prudential returns within the specified time periods.
• Reference: The matter is recorded under Matter ID BF040513/053.

For other licensees, the notice serves as a reminder that prudential and statistical returns must be filed within the time periods set by the 2009 Order, and that late or non filing can result in administrative penalties.

Key obligations

• Licensees must file required prudential and statistical returns within the time periods specified under section 4(1) of the Financial Services (Prudential and Statistical Returns) Order, 2009, to avoid administrative penalties.

Applies to

banking licensees, fiduciary services providers