Directive - SR Corporate Services Limited (2017-02-15)

Summary

This is an enforcement notice published by the BVI Financial Services Commission recording a Directive issued to SR Corporate Services Limited under section 40(1) of the Financial Services Commission Act, 2001. It orders the company to remedy specific anti-money laundering compliance failures by a fixed deadline and to confirm this to the Commission in writing.

• Compliance deadline: SR Corporate Services Limited must fully comply, by close of business on Friday 31 March 2017, with regulation 7(2)(b) of the Anti-Money Laundering Regulations, 2008 and paragraph 2 of the Anti-Money Laundering (Amendment) Regulations, 2015.
• Written confirmation: The company must provide the Commission with written confirmation, on or before 31 March 2017, that it has fully complied with those AML requirements.
• Matter reference: The action is recorded under Matter ID BF101113/373.

This notice is entity-specific enforcement action rather than a general rule change; it does not amend or create obligations for other regulated entities, but signals the Commission's active enforcement of the cited AML customer due diligence provisions.

Key obligations

• SR Corporate Services 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.
• SR Corporate Services Limited must provide written confirmation to the Commission on or before 31 March 2017 that it has fully complied with those requirements.

Applies to

Trust & Corporate Services Providers

Deadlines

• Friday, 31st March, 2017: Deadline for SR Corporate Services Limited to 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.
• on or before Friday, 31st March, 2017: Deadline for SR Corporate Services Limited to provide written confirmation of compliance to the Commission.