Administrative Penalty $580.00 - Cathedral Investment Management Company Limited (2016-12-22)

Summary

This is a public enforcement notice from the BVI Financial Services Commission announcing an administrative penalty imposed on Cathedral Investment Management Company Limited. It is purely informational, disclosing a completed enforcement action rather than creating any ongoing obligation for other parties.

• Penalty: $580.00 administrative penalty imposed on Cathedral Investment Management Company Limited
• Breach: Contravention of section 71(1) of the Securities and Investment Business Act, 2010, for failing to submit audited financial statements within six months after its financial year end of 31 December 2014
• Reference: Matter ID BF101113/304

The notice itself does not impose new requirements on other regulated entities, but it evidences the Commission's expectation that licensees under the Securities and Investment Business Act submit audited financial statements within six months of financial year end.

Key obligations

• Licensees under the Securities and Investment Business Act, 2010 must submit audited financial statements within six months after their financial year end (as reflected by the breach that led to this penalty).

Applies to

investment business licensees (securities and investment business)

Deadlines

• within six months after financial year end: Deadline under section 71(1) of the Securities and Investment Business Act, 2010 for submitting audited financial statements, which Cathedral Investment Management Company Limited failed to meet for its 31 December 2014 financial year end