Warning Letter - Hamilton Trust Management Company Limited (2014-12-19)

Summary

This is a published enforcement action notice from the BVI Financial Services Commission recording that a warning letter was issued to Hamilton Trust Management Company Limited. It is a historical record of a completed enforcement action rather than a document imposing new ongoing requirements on other firms.

• Breach found: Contravention of section 30(1) of the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008
• Nature of failure: Hamilton Trust Management Company Limited failed to ensure that copies of due diligence documents it relied upon were properly certified
• Sanction: The Commission issued a warning letter to the company (Matter ID: BF101113/217)

For other regulated entities, the notice serves as a public illustration of how the Commission enforces AML/CFT due diligence certification requirements; it does not itself create new obligations beyond those already set out in the AML/CFT Code of Practice.

Applies to

trust companies, trust and corporate services providers