Directive - MOSSACK FONSECA & CO (B.V.I.) LTD. (2017-02-15)

Summary

This is an enforcement action notice published by the BVI Financial Services Commission concerning Mossack Fonseca & Co (B.V.I.) Ltd. It records that a Directive was issued to the company under sections 40(1) and (2) of the Financial Services Commission Act, 2001.

• Directive issued: The Commission directed Mossack Fonseca & Co (B.V.I.) Ltd. to take certain actions, specifically to appoint an additional director approved by the Commission.
• Legal basis: The Directive was issued pursuant to sections 40(1) and (2) of the Financial Services Commission Act, 2001, which empower the Commission to direct licensees to take corrective action.
• Matter reference: The action is recorded under Matter ID BF101113/369.

This notice is specific to the named licensee and does not impose general obligations on other regulated entities, though it illustrates the Commission's use of its directive powers over trust and corporate services providers.

Key obligations

• Mossack Fonseca & Co (B.V.I.) Ltd. was directed to appoint an additional director approved by the Commission.

Applies to

Mossack Fonseca & Co (B.V.I.) Ltd. (trust and corporate services provider licensee)