Oriental Conrad Limited - Public Statement No. 6 of 2015 (20 May 2015)

Summary

This is a public statement issued by the BVI Financial Services Commission announcing that it has revoked the restricted Class II Trust licence of Oriental Conrad Limited, effective 28 April 2015. The notice informs the public and the Company's customers and creditors that Oriental Conrad Limited is no longer licensed or regulated by the FSC.

• Compliance officer failure: The Company contravened section 34(3) of the Financial Services Commission Act, 2001 by failing to appoint a Compliance Officer or seek an exemption.
• Returns failure: The Company contravened section 4 of the Financial Services (Prudential and Statistical Returns) Order, 2009 by failing to file prudential and statistical returns.
• Fees failure: The Company contravened sections 2 and 2A of the Financial Services Commission (Fees) (Amendment) Regulations, 2010 by failing to pay required annual licence fees since 2011.

The statement was issued under section 37A(1) of the Financial Services Commission Act, 2001, and the FSC indicates it will provide updates on any further developments concerning the Company.

Applies to

Oriental Conrad Limited, restricted Class II Trust licensees, trust companies