Lifting of Directive - National Bank of the Virgin Islands Limited (2013-11-10)

Summary

This is a short enforcement notice from the BVI Financial Services Commission announcing that a regulatory Directive previously issued against National Bank of the Virgin Islands Limited has been lifted. It is purely informational and does not create new ongoing obligations for other entities.

• Original Directive: The Commission had issued a Directive on 16 September 2011 against National Bank of the Virgin Islands Limited, a holder of a General Banking Licence.
• Lifting of Directive: The Commission decided to lift the Directive, with effect from 11 October 2013, meaning the Directive is no longer in effect.
• Matter reference: The action is recorded under Matter ID BF101113/175 in the Commission's enforcement action library.

No new compliance requirements are imposed on the bank or on the wider industry by this notice; it simply confirms the removal of a prior restrictive Directive.

Applies to

banks, General Banking Licence holders