Warning Letter - CR (BVI) Limited (2014-12-17)

Summary

This is a public enforcement notice from the BVI Financial Services Commission recording that a warning letter was issued to CR (BVI) Limited. The action relates to a breach of the anti-money laundering due diligence certification requirements and is published in the Commission's enforcement action library for public record.

• Breach found: Contravention of section 30(1) of the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008.
• Nature of failure: CR (BVI) Limited failed to ensure that copies of customer due diligence documents it relied on were properly certified.
• Sanction: A warning letter was issued to the firm; matter reference BF101113/215.

The notice is informational and documents a completed enforcement outcome against a named entity rather than creating new ongoing requirements for other market participants, though it underscores the Commission's expectation that all regulated entities properly certify due diligence documentation as required by section 30(1) of the Code.

Key obligations

• Entities relying on copies of customer due diligence documents must ensure those copies are properly certified, as required by section 30(1) of the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008.

Applies to

CR (BVI) Limited, entities subject to the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008