Administrative Penalty $5,000.00 - NCB Investment Services Company (2011-05-18)

Summary

This is a public enforcement notice from the BVI Financial Services Commission recording that it imposed an administrative penalty of $5,000.00 on NCB Investment Services Company Limited, a Class I Trust licensee. The penalty arose from a contravention of section 17 of the Banks and Trust Companies Act, 1990, specifically for failing to submit audited financial statements to the Commission within the prescribed or approved period.

• Entity: NCB Investment Services Company Limited (Class I Trust licence)
• Contravention: Section 17 of the Banks and Trust Companies Act, 1990 - failure to file audited financial statements within the prescribed or approved period
• Penalty: Administrative penalty of $5,000.00
• Matter reference: ENF0408/027

This notice is purely informational, documenting a past enforcement outcome; it does not itself impose any new ongoing requirement on other regulated entities, though it serves as a reminder that licensees must file audited financial statements within the timeframe required under section 17 of the Banks and Trust Companies Act, 1990.

Applies to

banks, trust companies, Class I Trust licensees