Administrative Penalty $750.00 - DW Trustees (BVI) Limited (2011-09-09)

Summary

This is a published enforcement action notice from the BVI Financial Services Commission recording that it imposed an administrative penalty of US$750.00 on DW Trustees (BVI) Limited, a Class I Trust licensee, for contravening section 17C of the Banks and Trust Companies Act, 1990.

• Entity: DW Trustees (BVI) Limited, holder of a Class I Trust licence (Matter ID: BF0610/059).
• Contravention: Failure 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.
• Penalty: An administrative penalty of $750.00 was imposed.

The notice is a historical record of enforcement action taken against this specific licensee and does not itself create new ongoing obligations for other licensees, though it illustrates the Commission's enforcement of the statutory requirement to file audited financial statements on time.

Applies to

banks, trust companies, Class I Trust licensees