Public Statement 15 of 2026 - Cornerstone Investment Management Limited

Summary

This is a Public Statement issued by the BVI Financial Services Commission announcing the revocation of the investment business licence held by Cornerstone Investment Management Limited. The FSC issued the statement under section 37A(2)(c)(i) and (ii) of the Financial Services Commission Act, 2001, citing multiple ongoing contraventions by the Company.

• Unpaid fees: Failure to remit annual fees for 2021 through 2026.
• AML/CFT Returns: Failure to submit AML/CFT Returns for 2020 through 2025.
• Annual Returns: Failure to submit Investment Business Annual Returns for 2022 through 2025.
• Audited financials: Failure to submit audited financial statements for reporting years 2022 through 2025.
• Compliance officer reports: Failure to submit compliance officer reports for reporting years 2022 through 2025.
• Other: Likely failures of compliance obligations more broadly.

Effective 3 August 2026, the FSC revoked the Company's licence issued under the Securities and Investment Business Act, 2010, pursuant to sections 37(1)(a), 37(2)(a) and 38(1)(a) of the FSC Act. The FSC confirms the Company is no longer licensed to carry on any type of financial services business in or from within the Virgin Islands.

Applies to

investment business licensees, securities and investment business licensees

Deadlines

• 3 August 2026: Effective date on which the FSC revoked Cornerstone Investment Management Limited's investment business licence.