Warning Letter - DANTRUST LIMITED (2015-07-16)

Summary

This is a warning letter published by the BVI Financial Services Commission against DANTRUST LIMITED, a licensed company manager, for breaches of compliance, capital, and anti-money laundering requirements. It is an enforcement notice describing past contraventions rather than a rule of general application.

• Compliance Officer failure: Failing to at all times have an approved Compliance Officer, contravening section 45(1)(a) and 45(2) of the Regulatory Code, 2009.
• Capital resource failure: Failing to maintain the minimum capital resource requirement applicable to a licensed company manager, contravening section 10 of the Company Management Act, 1990 and section 158(1) of the Regulatory Code.
• MLRO failure: Failing to appoint from within its staff a Money Laundering Reporting Officer of sufficient seniority, contravening regulation 13(1) of the Anti-Money Laundering Regulations, 2008.

The notice records the matter under reference BF101113/258 and does not set out any further corrective action, fine, or continuing obligation beyond the issuance of the warning itself.

Applies to

licensed company managers, trust and corporate service providers