Directive - MOSSACK FONSECA & CO. (B.V.I.) LTD. (2016-04-29)

Summary

This is a short enforcement notice published by the BVI Financial Services Commission announcing that it issued a directive to Mossack Fonseca & Co. (B.V.I.) Ltd. under section 40(1)(b) of the Financial Services Commission Act, 2001. The directive required the licensee to take specified actions to protect property in its custody, possession or control, and to protect its customers and creditors (including potential customers and creditors).

• Legal basis: Issued under section 40(1)(b) of the Financial Services Commission Act, 2001.
• Subject: Mossack Fonseca & Co. (B.V.I.) Ltd., referred to as the Licensee.
• Purpose: To require the Licensee to take actions the Commission considers necessary to protect property in its custody or control and to protect customers, creditors and potential customers or creditors.
• Reference: Matter ID BF101113/281.

The notice is an enforcement alert specific to this one licensee and does not set out any general rule, guidance, or obligation applicable to the wider regulated population. No further procedural detail, compliance deadline, or public commentary is included in the source text beyond the summary of the directive itself.

Key obligations

• Mossack Fonseca & Co. (B.V.I.) Ltd. was directed to take specified actions to protect property in its custody, possession or control
• Mossack Fonseca & Co. (B.V.I.) Ltd. was directed to take specified actions to protect its customers, creditors, and potential customers or creditors