Warning Letter - McNamara Corporate Services Limited (2014-12-19)

Summary

This is a published enforcement notice from the BVI Financial Services Commission announcing that a warning letter was issued to McNamara Corporate Services Limited for breaches of the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008. It is a historical enforcement record rather than a rule imposing new ongoing requirements, but it signals the standards the Commission expects trust and corporate services providers to meet.

• Section 23 breach: Failing to establish the identity of an applicant for business or a customer with respect to a relationship or transaction.
• Section 30(1) breach: Failing to ensure that copies of due diligence documents relied upon were properly certified.

The notice records Matter ID BF101113/219 and confirms a warning letter, rather than a fine or licence action, was the outcome. No further action or continuing obligation is stated for McNamara Corporate Services Limited itself in this notice.

Applies to

Trust and Corporate Services Providers