Appointment of Examiner - Crescent Corporate Services Limited (2013-08-20)

Summary

This is an enforcement notice from the BVI Financial Services Commission announcing the appointment of an examiner over Crescent Corporate Services Limited, a Class I Trust and Registered Agent licensee. It does not create general industry-wide requirements; it documents a specific regulatory intervention into one firm.

• Legal basis: Appointment made under section 36(1)(a) of the Financial Services Commission Act, 2001.
• Examiner appointed: Baker Tilly (BVI) Limited was appointed as the competent person to act as Examiner of Crescent Corporate Services Limited.
• Scope of investigation: The Examiner must determine whether Crescent Corporate Services Limited is insolvent and whether it can pay its obligations as they fall due.
• Reporting requirement: The Examiner must provide a report of findings to the FSC.
• Matter reference: Matter ID BF062113/099.

The notice is specific to Crescent Corporate Services Limited and its appointed Examiner; it does not itself impose new ongoing obligations on other licensees or the wider industry.

Key obligations

• The appointed Examiner (Baker Tilly (BVI) Limited) must investigate whether Crescent Corporate Services Limited is insolvent and whether it can pay its obligations as they fall due, and must report findings to the FSC.

Applies to

Trust and Corporate Services Providers, Class I Trust and Registered Agent licensees