Warning Letter - Sucre & Sucre Trust Limited (2014-12-19)

Summary

This is a published enforcement action notice from the BVI Financial Services Commission recording a warning letter issued to Sucre & Sucre Trust Limited. It is a historical public record of a specific enforcement outcome, not a rule or guidance document, and it does not impose ongoing obligations on the wider industry.

• Contraventions found: Failing to establish the identity of an applicant for business or a customer with respect to a relationship or transaction (section 23 of the Anti-Money Laundering and Terrorist Financing Code of Practice, 2008).
• Contraventions found: Failing to ensure that copies of due diligence documents relied upon were properly certified (section 30(1) of the Code).
• Action taken: The Commission issued a warning letter to the firm; matter reference BF101113/220.

The notice is specific to Sucre & Sucre Trust Limited and does not itself set new requirements for other regulated entities, though it illustrates the customer due diligence and certification standards the Commission expects trust and corporate services providers to meet under the AML/CFT Code of Practice.

Applies to

Sucre & Sucre Trust Limited (trust and corporate services provider)