Notice
Directive - HAVELET TRUST COMPANY (BVI) LIMITED (2017-02-15)
Issued 2017-02-15View on FSC's website Source document
Summary
This is an enforcement notice from the BVI Financial Services Commission publishing a Directive issued to Havelet Trust Company (BVI) Limited under section 40(1) of the Financial Services Commission Act, 2001. It applies specifically to this named trust company and does not create general obligations for other licensees.
- Compliance requirement: By close of business on Friday 31 March 2017, Havelet Trust Company (BVI) Limited must fully comply with regulation 7(2)(b) of the Anti-Money Laundering Regulations, 2008 and paragraph 2 of the Anti-Money Laundering (Amendment) Regulations, 2015.
- Confirmation requirement: On or before Friday 31 March 2017, the company must provide the Commission with written confirmation that it has fully complied with those AML regulatory requirements.
The matter is recorded under Matter ID BF101113/365. As this is a company specific enforcement directive rather than a rule of general application, it has no direct compliance impact on other regulated entities, though it signals the Commission's active enforcement of AML customer due diligence and record keeping requirements under the 2008 Regulations as amended in 2015.
Key obligations
- Havelet Trust Company (BVI) Limited must fully comply with regulation 7(2)(b) of the Anti-Money Laundering Regulations, 2008 and paragraph 2 of the Anti-Money Laundering (Amendment) Regulations, 2015 by close of business on 31 March 2017
- Havelet Trust Company (BVI) Limited must provide written confirmation to the Commission on or before 31 March 2017 that it has fully complied with the above AML requirements
Applies to
trust company
Deadlines
- Friday, 31st March, 2017: Deadline for Havelet Trust Company (BVI) Limited to fully comply with regulation 7(2)(b) of the AML Regulations, 2008 and paragraph 2 of the AML (Amendment) Regulations, 2015
- Friday, 31st March, 2017: Deadline for Havelet Trust Company (BVI) Limited to provide written confirmation to the Commission of full compliance