Revocation of Licence - Palladium Trust Company (BVI) Limited (2023-02-20)

Summary

This is an enforcement notice published by the BVI Financial Services Commission announcing that it has revoked the Class II Trust Licence held by Palladium Trust Company (BVI) Limited. The action was taken under section 38(1)(a) of the Financial Services Commission Act, 2001, on the basis that the company had ceased to carry on financial services business.

• Entity affected: Palladium Trust Company (BVI) Limited
• Licence revoked: Class II Trust Licence
• Legal basis: Section 38(1)(a) of the Financial Services Commission Act, 2001
• Effective date: 20 February 2023
• Reason: The Company had ceased to carry on financial services business
• Reference: Matter ID ENF033123/014

Applies to

trust companies, Class II Trust Licence holders

Deadlines

• 20 February 2023: Effective date of revocation of Palladium Trust Company (BVI) Limited's Class II Trust Licence