Revocation of a Licence - HALLIDAY INSURANCE AGENCY LIMITED (2017-12-04)

Summary

This is a BVI Financial Services Commission enforcement notice confirming that the insurance licence held by Halliday Insurance Agency Limited was revoked. It is a public record of a completed regulatory action rather than a rule imposing new ongoing duties on other firms.

• Legal basis: Revocation issued under sections 38(1)(a) and 38(4) of the Financial Services Commission Act, 2001.
• Grounds: Contravention of section 57(1) of the Insurance Act, 2008 and the Financial Services Commission (Fees) Regulations, 2010.
• Additional finding: Failure to fulfil all requirements to be approved for voluntary cancellation of its licence under the Commission's Guidance Notes for the Revocation or Cancellation of Licences or Certifications, including approval of solvent liquidation procedures.
• Reference: Matter ID BF101113/400.

The notice does not create new compliance obligations for the wider industry; it serves as a public alert that Halliday Insurance Agency Limited is no longer licensed to carry on insurance business in the British Virgin Islands.

Applies to

insurance agencies, insurance licensees