Warning Letter - Folio Administrators Limited (2016-08-03)

Summary

This is a public enforcement notice from the BVI Financial Services Commission recording that it issued a warning letter to Folio Administrators Limited. The action relates to a breach of anti-money laundering rules, specifically a failure to carry out enhanced customer due diligence.

• Breach found: Contravention of section 20(4) of the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008.
• Nature of failure: Failing to carry out enhanced customer due diligence.
• Sanction imposed: A warning letter was issued to the firm.
• Reference: Matter ID BF101113/282.

The notice is informational, documenting a completed enforcement outcome against a named entity rather than setting out new rules or ongoing filing requirements for the wider industry.

Applies to

Folio Administrators Limited