Administrative Penalty $5,000.00 - Shirley Trust Company Limited (2011-11-15)

Summary

This is a published enforcement notice from the BVI Financial Services Commission recording that it imposed an administrative penalty on Shirley Trust Company Limited, a Class I Trust licensee. The notice is purely informational, publicising a completed enforcement action rather than creating any new ongoing rule.

• Penalty: An administrative penalty of $5,000.00 was imposed on Shirley Trust Company Limited
• Contravention: The company failed to submit audited financial statements to the Commission within the prescribed or approved period, in breach of section 17C of the Banks and Trust Companies Act, 1990
• Licence details: Licence Type: Class I Trust; Matter ID: BF1014/122; Industry Type: Banking and Fiduciary Services

The notice does not impose any new continuing obligations on other regulated entities; it serves as a public record of the penalty already levied against this specific licensee for a historic filing failure.

Applies to

trust companies, banks and trust companies licensees